Top House Republican ‘optimistic’ on Ex-Im reauthorization

Rep. Cathy McMorris Rodgers (R-Wash.) is optimistic that lawmakers will reauthorize the Export-Import Bank, according to a report in The Bellingham Herald.



An official for McMorris Rodgers, the fourth-ranking House Republican, told the local newspaper’s editorial board that she believes any Ex-Im reauthorization must include reforms to the bank’s structure.



“The Congresswoman recognizes that Washington is the most trade dependent state in the nation, and she believes that reauthorization of the Ex-Im bank must include increased transparency and accountability, as well as safeguards to protect hard working taxpayers,” a McMorris Rodgers spokesman told the paper. “She is optimistic about current proposals and is hopeful about reaching reauthorization that takes into account these important reforms.”



Congress must reauthorize the bank before June 30 or it will shut down.



Tea Party critics, led by House Financial Services Committee Chairman Jeb Hensarling (R-Texas), oppose the bank, arguing that it only benefits big businesses. They say that it is a form of “corporate welfare” that puts taxpayers at risk.



The business community, centrist Republicans and Democrats say that the bank helps finance U.S. companies in markets where the private sector will not act.

Ex-Im watchers have wondered whether House leadership will overstep Hensarling and bring a reauthorization bill to the floor should he not move a reauthorization bill through his panel. 



Hensarling hasn’t said whether he will move a bill.



There are several proposals in Congress that would extend the bank’s charter for at least five years.