House Dems to offer Ex-Im bill

Top Democrats on the House Financial Services Committee plan to introduce legislation reauthorizing the Export-Import Bank’s charter, which is set to expire on June 30.

Democratic Reps. Gwen MooreGwen Sophia MooreOn The Money: Senate panel scraps vote on key spending bill amid standoff | Democrats threaten to vote against defense bill over wall funding | Trump set to meet with aides about reducing capital gains taxes House Democrats blur lines on support for impeachment House Democrat offers bill to let students with pot conviction retain federal aid MORE (Wis.), Maxine WatersMaxine Moore WatersManufacturing group leads coalition to urge Congress to reauthorize Ex-Im Bank Democrats' impeachment message leads to plenty of head-scratching Trump officials vow to reform Fannie, Freddie if Congress doesn't act MORE (Calif.) and Denny HeckDennis (Denny) Lynn HeckExclusive: Guccifer 2.0 hacked memos expand on Pennsylvania House races Heck enjoys second political wind Incoming lawmaker feeling a bit overwhelmed MORE (Wash.) are working on the bill, according to an email Moore’s chief of staff, Minh Ta, sent to senior House Democratic staff members on Thursday.

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The email, which said the lawmakers were working on a "Democratic alternative reform Ex-Im bill," was first obtained by The Hill.

“We hope to get a bill drafted and introduced soon that will adhere to the diversity of the Dem Caucus and keep us unified,” Ta wrote. “As you all know, the reauthorization of the Export-Import Bank is a major priority for the Dem Caucus and all our bosses... I just wanted make you all aware that there will be a Dem bill out there.”

It's unclear how the legislation will differ from the five-year Ex-Im reauthorization bill that Rep. Stephen Fincher (R-Tenn.) introduced earlier this week. Fincher’s bill had 57 GOP co-sponsors, but no Democrats.

Moore said Friday during a forum in Milwaukee with bank president Fred Hochberg that Fincher's bill “is a good start — but it has warts.”

Fincher's bill would require audits of the bank’s portfolio, and would reduce its lending cap from $140 billion to $130 billion. 

It also includes a provision opposed by environmentalists that would reverse Ex-Im guidelines restricting the bank from financing projects at power plants that don't adopt greener technology. One senior Democrat aide to a House member said that the provision was a “non-starter” for many House Democrats.

House Financial Services Committee Chairman Jeb HensarlingThomas (Jeb) Jeb HensarlingHas Congress lost the ability or the will to pass a unanimous bipartisan small business bill? Maxine Waters is the Wall Street sheriff the people deserve Ex-GOP congressman heads to investment bank MORE (R-Texas) and other fiscal conservatives oppose Ex-Im's reauthorization. They argue that the bank is “corporate welfare” that only helps big businesses like Boeing.

Democrats and centrist Republicans, backed by the business community, say the bank helps expand U.S. exports by financing U.S. investments abroad.

Hensarling hasn't said whether he will move a bill through his committee, which has jurisdiction on the issue. Ex-Im supporters hope they can put pressure on Hensarling by building bipartisan support.

Senate Banking Committee Chairman Richard Shelby (R-Ala.) has said he will hold a hearing on the bank's reauthorization.