Democrats Call For Reauthorization Of Little-Known Export Import Bank | WAMU 88.5 - American University Radio

WAMU 88.5 : News

Filed Under:

Democrats Call For Reauthorization Of Little-Known Export Import Bank

Play associated audio

Democrats say thousands of jobs in the region are at risk if lawmakers don't renew the authorization for a little-known government entity called the Export Import Bank.

The Export Import Bank helps support U.S. businesses who sell goods abroad. Since 2010, it helped support about $1 billion in exports from both Maryland and Virginia companies, and nearly $60 million in exports from D.C. firms. There are growing calls from the conservative wing of the Republican Party to let the bank expire at the end of September because many lawmakers say it amounts to corporate welfare.

But Maryland Democratic Congressman Steny Hoyer says that would punish local companies."We think if we did not and do not reauthorize the Export Import Bank, in effect we're going to unilaterally disarm and hurt our ability to export goods," Hoyer said.

Forty-one moderate Republicans have asked for House Speaker John Boehner to bring the measure up for a vote. Not a single Republican from this region signed the letter.

Hoyer says the votes are there if only lawmakers are given a chance to vote on the measure. "Every Democrat is prepared to vote for it and that would mean it would have at least 230-plus votes and would pass," he said.

The bank's authorization is set to lapse on Sept. 30.

WAMU 88.5

Art Beat With Lauren Landau, Oct. 23

You can see a play and hear music made famous by film.


Glow-In-The-Dark Treats To Light Up Your Halloween

Two entrepreneurs have developed new tricks to make food that's literally illuminating, using ingredients that are as natural and unprocessed as possible. It's just basic food chemistry, folks.

Democrat Climate Activist Is Election's Biggest Donor — That We Know Of

Activist Tom Steyer has spent an astonishing $58 million this election cycle. He says he wants leaders in Washington who will take climate change seriously.

Tweets In Hong Kong Put Kenny G In Jam With Communist Party

The saxophone superstar, hugely popular in mainland China, walked into a minefield in Hong Kong. Selfies with demonstrators sparked a response from the government — and Kenny G took down the tweets.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.