WASHINGTON (AP) — Supporters of the Export-Import Bank in Congress are on the brink of bringing it back to life. That’s after votes showed sweeping support for attaching it to a popular measure funding highway programs.
The highway measure swept through the House on Thursday with a provision tacked on to reauthorize the bank.
The Export-Import Bank helps overseas buyers get financing to purchase U.S. exports. It also enjoys widespread support in the Senate, and the provision that revives it is a good bet to survive House-Senate highway bill negotiations despite opposition from top GOP leaders including House Speaker Rep. Paul Ryan (R-WI) and Senate Majority Leader Sen. Mitch McConnell (R-KY).
The bank’s charter expired June 30, and it has been unable to approve new financing applications since then.
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