Export-Import Bank Defeated for Now

Wednesday, March 21st, 2012 and is filed under News

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Harry Reid failed in his attempt to invoke cloture on an amendment to the small business jobs bill (Cantwell AMDT. to HR 3606) that would reauthorize the Export-Import bank and raise its lending cap from $100 billion to $140 billion.  The sad thing is that every Democrats and 3 Republicans (Brown, Collins, and Heller) voted for the amendment.  Now the Republicans in the House must hold firm and reject leadership’s 1-year reauthorization  that will raise the lending cap to $113 billion.  Senator DeMint has a full list of concerns with the bank.  It must be abolished.