WASHINGTON — Several dozen Republicans teamed up with Democrats on Friday to assure a House vote on reviving the U.S. Export-Import Bank, giving the effort to save the bank new life more than three months after its charter lapsed.
The development came as bank supporters got a majority of the House to sign a petition to dislodge a measure to revive it from a powerful panel controlled by a bank opponent. The bank helps finance sales of U.S. exports to foreign customers.
The bank’s charter expired June 30, and it has been unable to approve new applications to help overseas buyers get financing to purchase U.S. products like airplanes and heavy equipment. Supporters say the bank helps sustain tens of thousands of manufacturing jobs.
Bank supporters have been stymied by opposition from Tea Party Republicans, House Financial Services Committee Chairman Jeb Hensarling, R-Texas, and top GOP leaders like Majority Leader Kevin McCarthy, R-Calif.
Such “discharge petition” efforts are rarely successful and are routinely discouraged by House leaders. But outgoing Speaker John Boehner, R-Ohio, who supports continuing the bank, made little if any effort to quash the petition drive once Hensarling made clear he would not advance legislation to renew the bank through his committee without more support from Republicans.
“The Export-Import Bank plays a key role in protecting and growing American jobs by helping U.S. businesses compete on a level playing field with our foreign competitors,” said Rep. Bob Dold, R-Ill., who signed the petition.
Republicans supporting the bank lined up on the House floor early Friday morning to sign on, said Rep. Frank Lucas, R-Okla., who helped organize the effort. Democrats put it over the top during a series of votes early Friday afternoon, prompting a loud cheer that could be heard in the halls outside the chamber.
The 39 Republicans who signed the petition were mostly party loyalists but were frustrated with Hensarling.
“We know leverage when we have it,” said Rep. Charlie Dent, R-Pa. “We have leverage right now. And we intend to exercise it.”
A statement from Hensarling emailed after bank backers had already obtained enough signatures warned Republican colleagues that the fight would further inflame tensions inside the GOP and set a bad precedent in which a small minority of lawmakers could wrest control of the agenda from party leaders.
“At a time when our Republican Conference is divided, this will divide it even further,” he said. “Signing a discharge petition — regardless of the issue — gives the Democrats control over our agenda.” Hensarling said that a majority of Republicans on the financial services panel oppose the bank.
But Rep. Gwen Moore, D-Wis., called the petition “a real tribute to democracy.”
“One person cannot stop the momentum of the majority,” she said.
Conservative critics say the bank provides too much of its credit assistance to help huge, well-connected corporations like The Boeing Company and General Electric.
