Senate Majority Leader Harry ReidHarry ReidFranken emerges as liberal force in hearings GOP eyes new push to break up California court The DC bubble is strangling the DNC MORE (D-Nev.) on Monday agreed to Republican demands for votes on five amendments to legislation reauthorizing the Export-Import Bank.
Reid's concession on the amendments will allow the Senate to proceed to the bill on Tuesday, but it remains unclear whether the upper chamber can finish its work on the legislation by May 31, when the bank's charter expires.
Republicans are divided over whether to reauthorize Ex-Im’s charter, which has complicated passage of the bill in both chambers.
Business groups like the U.S. Chamber of Commerce support the Ex-Im Bank, but it is opposed by conservative groups such as the Club for Growth.
Some Republicans see the bank as a form of corporate welfare that gives the government the power to pick winners and losers. The bank’s use of export subsidies has also come under attack.
While the House approved the legislation in an easy 330-93 vote, all of the "no" votes came from Republicans.
All of the amendments demanded by Sen. Jon Kyl (R-Ariz.) and other Republicans would either limit the power of the bank or add requirements to its charter.
One amendment, by Sen. Bob CorkerBob CorkerHaley ready for UN role despite dearth of foreign policy experience Top Dem: Don’t bring Tillerson floor vote if he doesn’t pass committee Trump’s UN pick threads needle on Russia, NATO MORE (R-Tenn.), adds a requirement of certification of foreign exports. Sen. David VitterDavid VitterLobbying World Bottom Line Republicans add three to Banking Committee MORE's (R-La.) amendment prohibits the bank from funding overseas renewable energy projects that compete with ones in Sen. Pat Toomey's (R-Pa.) amendment requires, which there be "progress" on negotiating ending the bank before the "release of Ex-Im funds." Sen. Mike LeeMike LeeBooker is taking orders from corporate pharmaceuticals Paul, Lee call on Trump to work with Congress on foreign policy Right renews push for term limits as Trump takes power MORE's (R-Utah) amendment outright kills the bank one year after its reauthorization. Lastly, Sen. Rand PaulRand PaulDems blast Trump plans for deep spending cuts Trump team prepares dramatic cuts Paul, Lee call on Trump to work with Congress on foreign policy MORE's (R-Ky.) amendment prohibits the bank from making loans to countries that hold U.S. financial "debt instruments" such as government bonds.
The agreement on Monday led Reid to drop plans for an evening cloture vote on a motion to proceed to the legislation.
Reid has sought to highlight the support of business lobbies for the legislation. On Monday, he read a letter from the National Association of Manufacturers that called on all senators to pass the bill.
“The Export-Import Bank … is one of the only tools manufacturers in the United States have to counter hundreds of billions of dollars of export financing that foreign governments offer to their exporters,” Reid read from the letter.
Before the vote on Monday, Reid said Democrats and Republicans in the chamber were trying to work out a deal. He also grumbled over what he said was GOP obstruction on the legislation.
"Even though there is outward support for this legislation, they want to kill this bill,” Reid said Monday. “They don't want government to have anything to do with our lives, period. Nothing. Which is unrealistic in this modern world, and in fact in any world."
— This story was updated at 6:21 p.m.