Hensarling Opposes Ex-Im Renewal, But Will Allow Committee Hearing
The Export-Import Bank reauthorization legislation submitted to Congress in recent days would boost the credit agency’s lending cap by $20 billion, said House Financial Services Committee Chairman Jeb Hensarling, R-Texas in an April 25 statement, while calling renewal “a bad…
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idea.” The bank manipulates markets, represents “the face of cronyism” and is poorly managed, said Hensarling. The chairman has been a staunch and vocal opponent of the bank (see 14032526). The bank’s charter expires on Sept. 30. Hensarling vowed to consider reauthorization legislation, however, in response to pressure from House Democrats over recent months (see 14042427). "The committee will hold a hearing in the coming months to discuss this reauthorization request and give members an opportunity to publicly debate the merits of the Bank," said Hensarling.