Senate Likely to Punt on Ex-Im Legislation Until September, Says Sen. Murphy
Business community proponents of the Export-Import (Ex-Im) Bank will likely have to wait until September for Congress to take a genuine look at reauthorization legislation, said Sen. Chris Murphy, D-Conn., during a July 25 conference call. The Senate will prioritize highway legislation in the final week of July, the last week in session before August recess, he added. The House overwhelmingly passed on July 15 an $11 billion measure to keep the Highway Trust Fund solvent through May 2015, and the Obama administration expressed support for the bill (see 14071602).
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
Meanwhile, lawmakers continue to explore options to reauthorize the credit agency prior to its Sept. 30 expiration, said Murphy. “We can make a case that we should pass a clean reauthorization of the Ex-Im Bank bill and put the burden on House Republicans to explain why they’re going to deal a crippling blow to the American economy and to our export potential by holding the bill up in the House,” said Murphy. “That being said, you know, all of us will be open to new ideas as to how to break the logjam on this.”
The House and Senate may have to consider tacking an Ex-Im measure on a continuing resolution that would fund the federal government beyond Sept. 30, the end of fiscal year 2013, Murphy said, adding that a short-term reauthorization is possible but not preferable. Secretary of Commerce Penny Pritzker, also a participant on the conference call, said the Obama administration is targeting a long-term extension in order to preserve confidence in the financing option. Pritzker did not comment further on the political process at play or the substance of an administration-preferred bill.
Two House bills on reauthorization have also been released in recent weeks (see 14071107). Senate Banking Committee member Joe Manchin, D-W.Va., also recently released a draft bill to reauthorize the credit agency. The bill prohibits a ban on financing coal-fired projects supported by many Democratic lawmakers (see 14071107 and 14071414). "I don’t think we should be legislating on the issue of climate change within the Export-Import Bank legislation, but separate and aside from my substantive objection I’m not convinced that that amendment would get us the votes necessary to pass this through the House,” said Murphy. -- Brian Dabbs