In the News

By Kevin Cirilli

Three Democrats on the House Financial Services Committee moved Thursday to force the panel to consider reauthorizing the Export-Import Bank, according to a copy of an amendment first obtained by The Hill.?

Reps. Gwen Moore (Wis.), Denny Heck (Wash.) and Maxine Waters (Calif.) offered the amendment in advance of the committee's Friday markup of President Obama's budget request.

Lawmakers must reauthorize the bank before June 30 or it will shut down. Chairman Jeb Hensarling (R-Texas) is a staunch critic of the bank, arguing with other Tea Partyers that it puts taxpayers at risk and is "corporate welfare."

The current draft of the panel's plan does not state whether it will move a bill approving Ex-Im, but states that it is "potentially placing taxpayer dollars at risk."

Centrist Republicans and Democrats, backed a broad coalition of business groups, say the bank helps sustain U.S. jobs.

Moore and Heck's amendment states that the panel "will work to consider reauthorization of the Bank through regular order that lets all sides be heard."

"[We will] will strive to complete work in a timely fashion that gives clarity and certainty to the American jobs that currently depend on the Bank’s support for the sale of their products overseas," the amendment says.

A Republican committee staffer said that Heck offered a similar amendment last year when the panel voted on its budget views.

"It failed just like this one is expected to," the committee staffer said. "Our side totally anticipated this and was prepared. Even Rep. Stephen Fincher [R-Tenn.] spoke up against the Democrats' amendment during debate -- which [Rep. Moore] said caught her by surprise."

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