Congressional staffers stood below a television monitor on June 3, as Fred Hochberg, chairman and president of the Export-Import Bank, testified before the House Financial Services Committee. (Bill Clark/CQ Roll Call)
With only hours to go before the Export-Import Bank’s charter expires for the first time in its 81-year history, lawmakers who support the agency are pointing fingers at the base of opposition — but not sounding the alarm bells of imminent catastrophe.
Starting Wednesday, the bank won’t be able to extend new loans — but it will still be able to serve out existing contracts. Most members are confident the operation will get reauthorized, some way or another, in the weeks before the month-long August recess and before the funding lapse becomes a real problem. Full story