A Capitol Hill battle is shaping up over the reauthorization of the Export-Import Bank. The bank provides financial aid to U.S. exporters, including heavy-equipment makers and construction firms. Its authorization expires on Sept. 30. A White House bill to keep Ex-Im running for five years has business groups' support. But at least one key House Republican opposes the proposal.
The White House bill, sent to Congress on April 23, would extend Ex-Im through 2019 and raise its aid cap, in steps, to $160 billion from $140 billion. Business doesn't want to see the bank's authority lapse.