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September 21, 2014

Senate Democrats Plan July Push on Export-Import Bank, Woo Chamber

schumer001 012314 445x296 Senate Democrats Plan July Push on Export Import Bank, Woo Chamber

Schumer has urged the Chamber of Commerce to shift its allegiance to the Democrats with Republicans blocking business priorities like the Export-Import Bank and a new immigration law. (Tom Williams/CQ Roll Call File Photo)

Senate Democrats intend to take up legislation this month reauthorizing the Export-Import Bank in the hope that a strong bipartisan vote in the chamber will help spur House Republican leaders to take up the measure.

“I believe we will bring the bill to the floor in July, before the August break, and we hope that business around the country, small businesses in particular, will rally to our side and tell their Congress member that we have to get the Export-Import Bank reauthorized,” said Sen. Charles E. Schumer, D-N.Y., in a conference call with reporters.

“I think if we can pass it in the Senate, and particularly with a good bipartisan majority, there is more friendliness among Republicans for this bill, that it will put pressure on the House,” Schumer said.

His comments come after House Speaker John A. Boehner, R-Ohio, last week declined to commit to putting bank legislation on the floor before the credit agency’s authorization expires at the end of the fiscal year, Sept. 30.

“There’s a big debate going on in our conference, and we’re just going to have to sort our way through this,” Boehner said. “My job is to help facilitate the sorting through of this so that we can get to an outcome.”

Schumer pointed out that the GOP reluctance on extending the bank is just the latest of a series of business friendly proposals supported by the U.S. Chamber of Commerce at which Republicans have balked, including immigration reform, the Terrorism Risk Insurance Act, and a raft of expired tax breaks known as extenders. He attributes the change in position to the influence of the tea party.

“All of the sudden our Republican colleagues, particularly in the House, frightened by a small group that have a lot of power, particularly the tea party, has changed their point of view in way that definitely hurts the country, hurts the middle class and hurts jobs,” Schumer said, adding that there could be a political price to pay.

Asked if the Chamber of Commerce, led by President Tom Donohue, should reconsider its traditional allegiance to the GOP Schumer said “I hope they would examine that, absolutely.”

“I’ve said this to Tom Donohue and to others, in many ways mainstream Democrats are closer to you than many Republicans because the tea party has pulled them so far to the right that they are doing what is harmful to business,” Schumer said.

Conservative Republicans have critical of the bank and called for ending it, arguing it is wasteful corporate welfare.

The bank “exists to dole out taxpayer-backed loan guarantees to help American exporters,” said Sen. Mike Lee, R-Utah, in an April floor speech. “Most of the benefits go to large corporations that are perfectly capable of securing private financing anywhere in the world. That is to say, Congress allows Ex-Im Bank to risk taxpayer money unnecessarily to subsidize well-connected private companies.”

But Sen. Maria Cantwell, D-Wash., who was also on the call, said that the bank also helps small many businesses.

While she concedes that large companies like Boeing get a disproportionately large amount of aid from the bank, it also helps the many small businesses in Boeing’s supply chain.

“Yes it does help U.S. manufacturers,” Cantwell said. “And what people need to understand first and foremost is that U.S. manufacturers have a supply chain that is made up of thousands of small businesses. So for us in the Northwest the supply chain that supports Boeing is about 80,000 people in Washington State. So that supply chain is affected by those deals that U.S. manufacturers can make in the global marketplace where there is world demand for 35,000 new airplanes. So without the Ex-Im bank we won’t be competitive and that small business supply chain will be hurt.”

Cantwell also said she wants more small business to avail themselves of the bank and “chase the global marketplace.”

Sen. Heidi Heitkamp, who was also on the call, stressed that allowing the bank to expire would hurt the nation’s competitiveness given that other countries help their manufacturers.

“To not reauthorize the Ex-Im bank is like unilateral disarmament in our attempts to grow our manufacturing base and grow our export base,” North Dakota Democrat said.

“These are the arguments that are going to get our colleagues see the light and get this done sooner rather than later,” Heitkamp said.

  • Yonatan YONATAN

    It’s been six months without an unemployment extension bill for the three million unemployed families still without benefits. The republicans senate has made every effort to delay the vote to render it too late for passing. This was done in a very calculated manner, without compassion or common decency towards these struggling families. The republican senate has destined these families to financial ruin and utter poverty. They have walked away from the issue, leaving these families without an income source. However, they fought tooth and nail for the Koch Brother’s Oil Pipeline bill to be passed. They have demonstrated for whom they work for, and it’s not the average American, living paycheck to paycheck. The republicans are working for corporate America and special interest groups with deep pockets. The congress recently passed a foreign aid package for the Ukraine. worth Billions of tax payer dollars, but failed helping these poor families in need.

    • Justin Ahlquist

      Good get a job there are plenty available, you just have to get off your dairy air, as my 5 yearold daughter would say. BTW I work in the oil industry our local unemployment rate is 2.2% your invited to pass the word, utah, texas, wyoming, oklahoma, dakotas, Pennsylvanian etc has energy industry jobs that pay well.

    • Kara

      Blah, blah, blah. Shut down legal and illegal immigration and guest worker programs, and there will be many more jobs for our unemployed.

  • Mark Hammel

    Today’s liberalism is no different than its marxist, socialist, and communist ancestors.

  • Greenie Beanie

    The ideology of liberalism engages in the same irrational war against mankind’s nature as its precursor ideologies of marxism, socialism, and communism.

  • Chuck Itt

    There’s no serious difference between today’s liberals and their socialist, marxist, and communist ancestors.

  • Ann Iston

    Like marxism, the “big idea” of today’s liberalism is the notion that a self-proclaimed group of the uber-enlightened are somehow magically entitled to consciously direct the future of mankind.

    • tomwest

      Isn’t the GOP’s idea that big buisness is somehow magically entitled to consciously direct the future of mankind?

  • Organix

    Since we are each unique, liberty’s principles also serve as a foundation for the rules of law intended to prevent unequal treatment and plunder by agents of the state in the name of fairness, equality, or other illusions.

  • tomwest

    The bank “exists to dole out taxpayer-backed loan guarantees to help American exporters”
    OK, so what’s the problem?

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