Finance

Senate shows Ex-Im support in test vote

Supporters of the Export-Import Bank showed they have the support to break a filibuster against its renewal on Wednesday in a test vote highlighting the bank’s support.

In a 31-65 tally, the Senate voted against tabling an amendment to reauthorize the bank.

{mosads}The amendment was offered by Sen. Mark Kirk (R-Ill.). Sen. Kelly Ayotte (R-N.H.), who supports the bank, then removed the amendment.

“What we’re trying to do here is basically show support for the Ex-Im Bank,” said Sen. Lindsey Graham (R-S.C.), a bank supporter who is one of five senators running for president. “This is not the last vote we’ll take on the Ex-Im Bank.”

Twenty GOP senators joined 45 Democrats to support the bank.

Presidential candidates Sens. Ted Cruz (R-Texas) and Rand Paul (R-Ky.) voted against the bank. Sen. Marco Rubio (R-Fla.), another presidential candidate and outspoken bank critic, did not vote.

Sen. Bernie Sanders (I-Vt.), who is running as a Democratic presidential candidate, also voted against the bank.

The Export-Import Bank will expire unless its charter is extended by the end of this month, and conservative Republicans in the House have mounted an effort to kill it.

Despite the show of support in the Senate, it appears unlikely the bank will be extended before June 30. Supporters will likely attach an amendment extending its charter to a transportation bill, but that legislation would not move until July.

Those opposed to the bank argue it is a form of crony capitalism in which favored companies get advantages. The bank finances overseas investments intended to boost U.S. exports. 

Tags Export-Import Bank Kelly Ayotte Lindsey Graham Mark Kirk
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