Ex-Im Bank Debate Expected During House Highway Bill Debate
The House on Nov. 4 is scheduled to vote on several amendments having to do with the Export-Import Bank’s reauthorization as part of the chamber’s consideration of a multiyear highway bill.
The amendments include Pennsylvania Republican Rep. Keith Rothfus’s proposal that would prohibit the bank from providing a guarantee or extending credit to a foreign borrower in connection with the export of goods or services by a U.S. company unless that company guarantees repayment of, and pledges collateral in an amount sufficient to cover, a percentage of the amount provided by the bank.
Also, amendments sponsored by Rep. Mick Mulvaney (R-S.C.) would limit Ex-Im Bank authorizations to countervailing purposes to meet competition from foreign export credit agencies as well as prohibit Ex-Im Bank authorizations involving countries with a sovereign wealth fund of more than $100 billion.
Before taking up the amendments, the majority whip, Rep. Steny Hoyer (D-Md.), took to the floor to call on colleagues to reject the Ex-Im Bank amendments.
Transportation leaders are looking to attach the bank’s reauthorization to the highway bill. Last week, the House passed a four-year reauthorization. The Senate-passed six-year highway measure includes Ex-Im Bank reauthorizing language. That Senate bill, passed in July, would keep highway programs funded for the first three years of authorization.
