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House Republicans Block Consideration of Export-Import Bank Renewal

Waters Calls for Immediate passage of legislation to create jobs and support businesses

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Washington, DC, March 17, 2015 | comments

Today, House Republicans rejected a Democratic motion to bring legislation to reauthorize, reform and re-energize the Export-Import Bank up for a vote. Using a parliamentary procedure called the "previous question," House Republicans blocked an effort to bring H.R. 1031, the “Promoting U.S. Jobs through Exports Act of 2015” to the House floor. This legislation, which has 190 Democratic cosponsors, extends Ex-Im’s charter for seven years, increases its lending authority, and modernizes the Bank’s programs to better serve small and medium-sized businesses.

Congresswoman Maxine Waters (D-CA), Ranking member of the Financial Services Committee, led the effort.

She released the following statement.

“I am disappointed that Republicans have blocked consideration of a common-sense proposal that would ensure the continuation of the Export-Import Bank, an institution that has created or sustained more than 1.2 million private sector jobs over the past five years.

Support for the Ex-Im Bank is bipartisan. I’m disappointed that today, those Republicans that do support the Bank gave in to the extremist wing of their party. In the future, I urge them to put jobs, the economy and American businesses over what’s politically expedient.”

The tactics on the House floor are in direct response to a clear message from Financial Services Committee Republicans that a normal legislative process will not be followed for Ex-Im. In February, Committee Republicans, led by Chairman Jeb Hensarling (R-TX), voted down an amendment offered by Reps. Waters, Gwen Moore (D-WI) and Denny Heck (D-WA) that urged the Committee to proceed with reauthorization of Ex-Im through “regular order. ”

Waters, Moore and Heck also sponsored HR. 1031, along with Democratic Whip Steny Hoyer (D-MD). Currently, a majority of the House has supported legislation to renew the Export-Import Bank.

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