Senate Renews Export-Import Bank's Charter | WAMU 88.5 - American University Radio

WAMU 88.5 : Morning Edition

Senate Renews Export-Import Bank's Charter

Play associated audio

The U.S. Senate yesterday passed legislation to renew the charter of the Export-Import Bank, a bank that businesses in the D.C. region say helps keep goods flowing through Maryland's ports.

The Export-Import Bank is a government entity that helps insure U.S. goods in order to entice more foreign trade with American companies. Business groups support it, but some Tea Party conservatives oppose the bank, arguing it intervenes in the "free market." Republicans initially delayed the bill to renew the bank's charter, but it ultimately passed both chambers by wide margins largely because business gruops from across the U.S. came out in strong support of the measure. 

Those supporters say the bank is essential for U.S. companies whose global competitors enjoy similar guarantees from their governments. Sen. Ben Cardin (D-Md.) believes the the Senate passage helps the D.C.region's economy. 

"It allows for export activity that otherwise, in this very difficult economy, would be another reason why we would see our economy not be able to continue with the progress we re making," Cardin said Tuesday.

In a statement, President Obama praised lawmakers for renewing the Export-Import Bank. But then he chided lawmakers for continuing to block other portions of his jobs bill, such as a measure to give small businesses incentives to hire. 

NPR

A 'Lasciviously LA' Lunch With Crime Novelist James Ellroy

Ellroy's new novel, Perfidia, follows the Los Angeles police response to a brutal murder on the eve of Pearl Harbor. In a vintage steakhouse, the author discusses the book and his tech-free lifestyle.
NPR

Reality Check For Young Farmers: It's An Expensive 'Habit'

More young people are trying their hand at farming, hoping to make a living out of it. But, as it turns out, passion and grit are just a few of the prerequisites for success.
NPR

Clintons Return To Iowa To Rally Democratic Hopefuls

The Clintons are back in Iowa at an event that is the place to see and be seen for ambitious Democrats. NPR's Arun Rath talks with national political correspondent Don Gonyea.
NPR

Gaming Expert: Destiny Is Good, But 'There's Not Much There'

The much-anticipated video game, Destiny, was released this week. NPR's Lynn Neary speaks with gaming expert Adam Sessler about the new game and whether it was worth all the hype.

Leave a Comment

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