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Ex-Im Bank issue splits Republicans in U.S. House

The Columbian
Published: June 9, 2015, 12:00am

YAKIMA — he politics surrounding the beleaguered Export-Import Bank have grown thick in recent days as a crucial Friday deadline came and went, leaving the fate of the financial institution far from certain as a June 30 expiration date approaches.

The debate over renewing the bank’s charter has divided Republicans in the U.S. House, where freshman Rep. Dan Newhouse, R-Sunnyside, an Ex-Im supporter, finds himself surrounded by the 170-member Republican Study Committee, a conservative House group that has formally come out against reauthorization.

Newhouse, who favors reauthorization, acknowledged in a telephone interview Friday that the battle is still uphill.

“I think we’ve still got work to do,” Newhouse said. “It’s still going to be a challenge getting it to the floor.”

But if it gets to a floor vote, Newhouse said he believes the votes will be there to pass it.

Some Republicans, not Newhouse, have speculated that Republican House Speaker John Boehner of Ohio could vote with Democrats to save the bank.

Many conservative Republicans maintain the Ex-Im Bank is an unnecessary government agency that provides subsidies for big businesses, referring to the institution as the “Bank of Boeing.” The Chicago-based aerospace company, which still has a sizable presence in the Puget Sound region, uses the bank to support the sale of jetliners abroad.

Technically, the bank could have died Friday since Congress must be notified 35 days in advance of all projects costing more than $100 million so members can review the proposed expenditures. With Republicans determined to do away with the bank, all projects frozen during that review period would die, according to news accounts.

While Sen. Maria Cantwell, D-Wash., has championed the Ex-Im bank in the Senate, even mentioning Yakima-based Manhasset Specialty Co., which uses the bank to sell its music stands “all over the globe,” with some of its best customers in China.

But even Senate Majority Leader Mitch McConnell, R-Ky., has said he personally opposes reauthorization, although he has promised a vote on the matter, according to The New York Times.

Critics say only 0.04 percent of America’s small businesses received anything from the Ex-Im Bank.

But Newhouse said he worked with small businesses that benefited from the bank when he was the director of the state Department of Agriculture.

“It’s something I’ve seen as a very effective tool to help increase the exports coming out of the state of Washington,” he said.

Newhouse said he’s also open to reforming the bank, including requiring additional audits.

“Reforms can always be part of the conversation; Ex-Im Bank is no exception,” he said.

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