Rep. Stephen Fincher, R-Tenn., introduced a bill that would restore Ex-Im Bank’s operations and include various reforms, but will require a “discharge process” to reach the House floor for a vote.
A Republican House lawmaker from Tennessee has introduced legislation that he hopes will garner enough support to reauthorize the charter of the U.S. Export-Import Bank.
The bank shuttered in July when Congress failed to renew its charter. A group of lawmakers rallied on Capitol Hill to successfully block the bank’s reauthorization, referring to the institution that provides financial support for U.S. exports as “corporate welfare.” Many large trade groups, such as U.S. Chamber of Commerce and North American Manufacturers Association, have lobbied for the bank’s restoration, and large companies like General Electric are warning of increased offshoring of jobs to secure export credit agency support in other countries.
On Sept. 30, Rep. Stephen Fincher, R-Tenn., introduced H.R. 3611, a bill that would restore Ex-Im Bank’s operations and include various operational reforms. The bill was co-sponsored by House Republicans Adam Kinzinger of Illinois, Ryan Costello of Pennsylvania, John Mica of Florida, and Rick Crawford of Arkansas.
According to the Wall Street Journal on Friday, the process of forcing this legislation to the House floor for a vote, referred to as the “discharge process,” would require it to be done before Rep. Kevin McCarthy, R-Calif., is expected to take his seat as the new House majority leader. McCarthy opposes reauthorization of the Ex-Im Bank.
For Finchser’s bill to be brought up for a vote will also require 218 House lawmaker signatures.
The Hill newspaper reported Thursday that House Minority Leader Nancy Pelosi of California supports Fincher’s efforts to force a vote on his Ex-Im Bank reauthorization bill and said a majority of Democratic lawmakers would get behind the effort.
“It’s time for Washington to get out of the way and quit killing American jobs,” Fincher said in a statement. “A vote to reform and reauthorize the Bank must be held immediately – too many jobs are on the line.”
House lawmakers aim to force Ex-Im Bank vote
