Export-Import Bank Moves Forward in US House

Ahead of an expected vote in the U.S. House of Representatives on Monday, the Florida Chamber of Commerce has issued an Action Alert to demonstrate support for the Export/Import Bank.

Fincher was successful because he was able to piece together a coalition of Republicans and Democrats who want to reopen the bank, which stopped doing business when its charter expired at the end of June.

The Ex-Im Bank provides loans and other support to overseas customers of US companies such as Boeing Co. and General Electric Co.

The bill had languished in the Financial Services Committee, because Republican Chairman Jeb Hensarling of Texas was part of a group of House conservatives who believed the bank provided federally backed favors for well-connected corporations.

There could be several procedural votes before a vote on final House passage, possibly on Tuesday.

"This is not regular order", said Rep. Mick Mulvaney, R-S.C. "This is shoving something down the American people's throats".

"We are encouraged that a majority of our colleagues are willing to stand with us to fight for American jobs and confident that Ex-Im will pass the House with overwhelming support in the coming days", he said.

"This is about jobs and a competitive America", said Representative Steny Hoyer, the second-ranking House Democrat. Senate Majority Leader Mitch McConnell of Kentucky opposes the reauthorization and has been reluctant to move stand-alone legislation in that chamber.

Amid the chaos over Boehner's resignation, Fincher used a rare maneuver known as a discharge petition, which if signed by a majority of the House, forces a vote on the legislation in question. The last time the House approved a discharge petition was 2002, for a campaign finance bill.

Discharge petitions are rarely attempted and seldom successful parliamentary tools that lawmakers can use to try to remove legislation from unfriendly committees.

Fincher's bill would reauthorize the bank for another five years and put in place reforms, such as better anti-corruption safeguards and an independent audit to make the bank more transport. The company is the largest U.S.-based beneficiary of the Export-Import Bank's efforts.

USA lawmakers will begin voting on Monday on legislation to revive the shuttered Export-Import Bank, a spokeswoman for a leading Republican backer of the bank said on Friday. But the Council for Citizens Against Government Waste said about two-thirds of the bank's payouts went to only 10 businesses in 2013, a few of which had profit margins in the hundreds of millions.

The discharge petition was met with opposition from a majority of Republicans in the House.

As evidence of just how much a few Republicans oppose the Ex-Im Bank, the debate and vote on the discharge petition was followed by a debate on whether Fincher had the right to offer it Monday evening, or whether it had to be offered "immediately" after the Pledge of Allegiance in the House.