Senate Majority Leader Harry Reid, D-Nev., this afternoon complained that the Export-Import bank “may stall” in the Senate due to Republican obstructionism. If only taxpayers were that fortunate.
As the Washington Examiner argued in its editorial on Sunday, Republicans should use any means necessary to stop the Ex-Im bank, which is advertised as a harmless entity to promote U.S. exports, but in reality is an agency that offers billions in corporate welfare in the form of loan guarantees. Two-thirds of the dollar value in such guarantees went to one well-connected company: Boeing. Without congressional action, the agency’s charter would expire at the end of the month. Legislation that already passed the House would extend and expand Ex-Im by approving up to $140 billion in loan guarantees.
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“A measure that would support 300,000 U.S. manufacturing jobs -Ex-Im Bank- may stall in the Senate tonight,” Reid tweeted. “The holdup: More GOP obstruction.”
An aide to Sen. Jim DeMint, R-S.C. says that in reality, the holdup is that Republicans want to allow the Senate to vote on a series of amendments offered by conservative members to place some limits on the bank, but thus far Reid will not agree to allow such votes,.
Republicans theoretically have the power to block the Ex-Im, because it needs 60 votes in the Senate. But given the way legislation sailed through the GOP-controlled house, it would be surprising if there were any serious effort to block it.
