WASHINGTON (AP) — Establishment Republicans have teamed up with House Democrats to revive the Export-Import Bank, dealing a defeat to tea party lawmakers and Speaker-to-be Rep. Paul Ryan (R-WI).
The House overwhelmingly approved the measure 313-118 as more than 120 Republicans joined virtually every Democrat to support the bank, whose charter expired June 30.
Since then, the bank has been unable to approve new applications to fulfill its mission of helping overseas buyers get financing to purchase U.S. exports like airplanes and heavy equipment. Supporters say the bank helps sustain tens of thousands of manufacturing jobs.
The measure came to the floor under a rarely-used procedure in which supporters mounted a petition drive to force a floor vote over the opposition several top House GOP leaders.
The bill’s fate remains uncertain in the Senate.
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