Senate renews Export-Import Bank

[alp227]

Source: Washington Post

On a broad bipartisan vote of 78 to 20, the Senate voted Tuesday to extend the life of the U.S. Export-Import Bank and expand its authority to make loans to U.S. exporters.

...

Tuesday’s bill was the rarest of breeds: a lasting compromise on an issue of substance. It renewed the charter of what is commonly referred to as the Ex-Im bank for three years and will over that time raise the cap on the total financing the bank can guarantee from $100 billion to $140 billion.

The House agreed to the same measure by a similarly broad 330-to-93 vote last week.

Read more: http://www.washingtonpost.com/politics/export-import-bank-reauthorized-by-senate/2012/05/15/gIQA7w31RU_singlePage.html

[xtraxritical]

1. Another subsidy to corporate America, great.