- The Latest on Export-Import Bank
- June 15, 2015
- Law Firm: McDonald Hopkins LLC - Cleveland Office
- Traditional business groups like the Chamber of Commerce and the National Association of Manufacturers can usually count on Republicans to support their agenda on the Hill. However, that's not the case at all when it comes to reauthorizing the Export-Import Bank.
While almost every Democrat in the House and Senate support reauthorizing the bank, the vast majority of Republicans oppose it, including many in leadership roles.
In an effort to show that Democrats aren’t alone in their support for the bank, a group of Republicans in the House joined ia news conference organized by the National Association of Manufacturers (NAM) to make the Republican case for the bank.
The five House GOPers in attendance urged reauthorization of the Export-Import bank at the news conference, which was held on the same day that the House Financial Services Committee convened a hearing on the bank’s future. The Export-Import bank is something that was once an overwhelmingly bipartisan and completely non-controversial event in Congress.
The bank is set to expire on June 30 unless the House and Senate act. The Senate has promised a vote this month - a concession Democrats managed in their negotiations over fast-track trade authority. In the House, however, Speaker John Boehner (R-Ohio) has only promised to “let the House work its will” in the event reauthorization passes in the Senate. A plan to move on reauthorization was conspicuously absent when House Majority Leader Kevin McCarthy (R-Calif.) released his schedule for June.
The exact number of House Republicans who can be counted on to support reauthorization is unknown. Last summer, 41 House Republicans signed a letter urging Boehner to reauthorize the bank. Nine of those members have since retired or resigned from Congress, making the number of actual GOP supporters unclear.
Boehner is in a tough spot, with the vast majority of his conference opposing reauthorization, including McCarthy and House Majority Whip Steve Scalise (R-La.).