U.S. Senate backs Ex-Im Bank renewal in procedural vote
Source: Reuters
The U.S. Senate voted on Sunday to advance legislation that would revive the federal Export-Import Bank, whose charter expired on June 30 and was not renewed by Congress, with conservative Republicans pushing to shut down the bank for good.
By a vote of 67-26, the Senate, in a rare Sunday session, limited debate on a measure that would reauthorize the federal credit agency through Sept. 30, 2019. Sixty votes of support were needed to keep the initiative alive.
The vote demonstrated the Senate's strong backing for bringing Ex-Im back to life, but its future remains in doubt.
The Republican-controlled Senate still must vote on whether to attach the measure to revive the bank, which helps U.S. exporters, to an unrelated bill on highway and mass transit funding.
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Read more: http://www.reuters.com/article/2015/07/26/us-usa-eximbank-congress-idUSKCN0Q00TC20150726
Politics | Sun Jul 26, 2015 5:27pm EDT
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