WASHINGTON POST OP-ED: Just three years ago, the House voted overwhelmingly to extend the charter ofthe Export-Import Bank and to expand its business of loaning money to boost American exports. Among Republicans, 147 voted yes and 93 voted no.
Nothing much has changed since then. The Export-Import Bank supported itself and generated returns of $675 million for taxpayers last year. Its default rate as of March was under two-tenths of 1 percent.
Yet now Republicans say a majority of the caucus wants to abolish the bank, and the Republican Study Committee — representing 170 House conservatives — has come out against renewing the charter. Opponents in both the House and Senate have so far succeeded in keeping the renewal from coming up for votes (in which a pro-bank, mostly Democratic coalition would almost certainly prevail), and without action the bank will shut down at month’s end… (more)
