Obama renewing call to reauthorize Export-Import Bank

Ex-Im Bank

“President Barack Obama is ramping up pressure on Congress to reauthorize the Export-Import Bank.  The obscure federal agency’s charter expired last month after lawmakers refused to reauthorize it. The bank underwrites loans to foreign companies purchasing American products, but conservatives call it corporate welfare.  Obama on Wednesday plans to meet at the White House with owners of small- and medium-size businesses that have benefited from the bank. Senate Majority Leader Mitch McConnell of Kentucky has floated the possibility of attaching the bank’s reauthorization to a six-year highway and transit bill.”

formerly/http://www.usnews.com/news/business/articles/2015/07/22/obama-renewing-call-to-reauthorize-export-import-bank

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