Jun 19, 2015

Then and Now: Ex-Im Bank Will (Not) Be Reauthorized

Post by Freedom Partners

SHOT: Ex-Im Supporters Confident In Reauthorization Just Weeks Ago

Ex-Im Chairman Fred Hochberg: “Frankly, We’re Going To Be Reauthorized.” “Frankly, we’re going to be reauthorized; the question will be precisely when and what form.” (Michael Grunwald, “‘Frankly, We’re Going To Be Reauthorized,” Politico, 06/02/15)

Boeing CEO Jim McNerney: I’m ‘Confident’ That The Ex-Im Bank Will Get Reauthorized. “Boeing Co. Chief Executive Officer Jim McNerney said he’s “confident” the U.S. Export-Import bank will survive conservative lawmakers’ campaign to cut off funding at the end of the month.” (Julie Johnsson, “Boeing CEO Is ‘Confident’ Ex-Im Bank Will Survive Funding Vote,” Bloomberg, 06/15/15)

Congressman Stephen Fincher: We’ll Renew The Ex-Im Bank Before The Deadline. “A Republican lawmaker pushing to reauthorize the U.S. Export-Import Bank said on Wednesday he was confident the export credit agency would get a lifeline before a June 30 deadline, based on ‘positive interactions’ he has had with Ex-Im critic Jeb Hensarling.” (Elvina Nawaguna, “Republican Backer Of U.S. Export-Import Bank: Renewal To Beat Deadline,” Reuters, 04/15/15)

Senate Democrats: ‘Confident’ That We’ll Save The Ex-Im Bank. “Senate Democrats and a substantial number of Republicans believe they can save an obscure, 81 year-old U.S. government bank, despite almost united opposition from GOP leadership in both chambers of Congress . . . One such advocate, Washington Democratic Sen. Maria Cantwell, pledged that it’s not a question of if Congress will reauthorize the Export-Import Bank, but when.” (Alex Rogers, “Senate Democrats Are Confident They Can Save The Export-Import Bank,” National Journal, 06/11/15)

CHASER: Expiration Of Bank “Inevitable” And Catastrophe Looms

“House Poised To Let Ex-Im Bank Expire.” “House GOP leaders plan to effectively let the Export-Import Bank expire by leaving a bill to reauthorize it off the floor schedule next week. House Majority Leader Kevin McCarthy (R-Calif.) didn’t mention any Export-Import Bank renewal measure while outlining the legislative schedule for the last week of June, the final chance to act before the bank’s charter expires on June 30.” (Cristina Marcos, “House Poised To Let Ex-Im Bank Expire,” The Hill, 06/18/15)

“Ex-Im Chief Pleads To Bank’s Opponents.” “Export-Import (Ex-Im) Bank President Fred Hochberg has personally lobbied House Majority Leader Kevin McCarthy (R-Calif.) to keep the bank alive. Hochberg told reporters on Friday that he has spoken to both McCarthy and House Financial Services Committee Chairman Jeb Hensarling (R-Texas), who both oppose extending the bank’s charter.” (Kevin Cirilli, “Ex-Im Chief Pleads To Bank’s Opponents,” The Hill, 06/12/15)

General Electric Now Leading A “Broad Push From Corporate America To Urge Congress To Extend Ex-Im.” “Immelt, who has been outspoken on his stance on the bank for some time, made his comments ahead of a speech in Washington that is part of a broad push from corporate America to urge Congress to extend Ex-Im . . .” (Ben White, “GE Chief: Demise Of Ex-Im Bank Would Mean ‘Economic Catastrophe,” Politico, 06/17/15)

Nuclear Industry “Rushing Against The Clock” To Reauthorize The Ex-Im Bank. “The nuclear power industry is rushing against the clock to convince lawmakers to authorize the Export-Import Bank before it expires June 30. . . . The nuclear industry is working with major business groups, including the National Association of Manufacturers and the U.S. Chamber of Commerce, for a long-term reauthorization of the bank before its legal authority runs out.” (Timothy Cama, “Nuclear Industry Intensifies Push To Reauthorize Ex-Im Bank,” The Hill, 06/01/15)

Expiration Of The Ex-Im Bank Is Now “Inevitable.” “The Export-Import Bank is almost certain to close its doors for the first time in history this summer, dragged down by presidential politics and a bitterly divided GOP — raising the question of whether the nation’s chief export credit agency will ever be revived.” (Burgess Everett and Manu Raju, “Ex-Im Bank Expiration ‘Inevitable’ Amid 2016 GOP Fight,” Politico, 06/04/15)