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The bill, introduced on Thursday, seeks a balance between
conservatives who want to close the export credit agency, other
Republicans who want reforms, and many Democrats who prefer a
longer-term mandate and an expansion of the bank's activities.
"We have been playing chicken with reauthorization for far too
long, we need to get it done," said Democrat Heidi Heitkamp, one
of four Democratic and four Republican senators backing the
bill.
Republican Mark Kirk said the bill had brought together senators
"who agree that American businesses, large and small, cannot
unilaterally disarm against our global competitors."
The bill may give supporters of Ex-Im, which provides support
for U.S. exporters and the buyers of U.S. goods, leverage to
push ahead with extending the bank's mandate, which currently
expires on June 30.
It would cut the bank's lending cap to $135 billion, from $140
billion, and boost the share of small business support to 25
percent from 20 percent.
"Discrimination" based on industry and energy source would also
be banned, which a Democratic aide said would end restrictions
on the bank's financing for coal-fired plants.
Coal is a sensitive subject for Democrats, and could be a deal
breaker for some members. Friends of the Earth senior program
manager Doug Norlen said fossil fuel projects, especially coal,
hurts communities by polluting air and water, harming human
health and fostering corruption.
But Senator Joe Manchin, a co-sponsor and Democrat from
coal-producing West Virginia, said the bill would allow clean
coal technologies to be exported.
Ex-Im bills introduced in the House of Representatives have
support from more than half that chamber's lawmakers, but face
opposition from Jeb Hensarling, a Republican who chairs the
House committee responsible for the bank and is influential in
determining which bills come up for a vote.
Critics charge that Ex-Im's support for overseas buyers of U.S.
goods, such as Boeing Co planes, gives foreign firms an edge
over U.S. competitors.
The Senate bill includes some reforms suggested in the House,
including regular reviews of fraud controls and the appointment
of a chief ethics officer.
The other supporters are Democrats Joe Donnelly and Mark Warner
and Republicans Lindsey Graham, Roy Blunt and Kelly Ayotte.
(Reporting by Krista Hughes; Editing by Sandra Maler, Bernard
Orr, Leslie Adler)
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