The Export-Import Bank reauthorization was passed by the U.S. Senate in mid-May, although it has been delayed in the House after the recent trade authorization vote debacle.
A broad coalition of business groups — including the U.S.
Chamber of Commerce and the National Association of Manufacturers — is pushing
for the bank's reauthorization, rallying small businesses nationwide in an
effort to showcase how small businesses also benefit from the federally backed
bank – not just the largest U.S. companies such as General Electric and Boeing.
In an interesting historical twist, the
Republicans, who have long supported the Ex-Im Bank have divisions over the
bank’s reauthorization Congress must reauthorize the bank by June 30 or it will
shut down. Rep. Stephen Fincher (R-TN) has a five-year Ex-Im reauthorization bill
that includes more stringent transparency measures than the Democratic version.
Fincher's bill has 58 Republican co-sponsors but not enough support to get the
bill to pass. A short term extension is planned.