The White House on Tuesday said it was “heartened” by leading Republicans coming out in favor of a temporary extension in authority of the Export-Import Bank, as lawmakers consider including the measure in a government-funding bill.
“This is not a controversial position,” said White House press secretary Josh Earnest, noting that President Ronald Reagan signed an extension for the Export-Import Bank. “This is a position that is espoused by the Chamber of Commerce.”
Earlier Tuesday, Speaker John Boehner, R-Ohio, signaled his support for a temporary extension.
“I’m working with Chairman [Texas Rep. Jeb] Hensarling,” Boehner told reporters. “He thinks a temporary extension of the Export-Import Bank is in order. Whether it’s a separate issue or in [a spending bill] is yet to be decided.”
Hensarling has been among the most vocal critics of the Export-Import Bank, part of a growing number of conservatives who say the bank simply offers unneeded aid to wealthy corporations.
In essence, the bank provides loans and other financial assistance to facilitate the purchase of U.S. exports.
With a short-term extension, lawmakers are expected to explore a broader overhaul of the agency. Congress is also working on a short-term funding bill to avert a government shutdown in the fall.
