Republican pushes five-year Ex-Im Bank renewal

Rep. Stephen Fincher (R-Tenn.) is trying to build support for a five-year reauthorization bill of the Export-Import Bank in the next Congress.

Congress voted in September to extend the bank’s charter through June amid a Republican debate over whether to continue government support for Ex-Im.

{mosads}The bank has historically won support from both parties, but conservative Republicans increasingly view it as an example of Washington “crony capitalism.” Financial Services Chairman Jeb Hensarling (R-Texas) has led an effort to end the bank’s existence.

Fincher argues that his bill would include reforms to make the bank’s financing programs more transparent. For example, he would add requirements that the bank offer more public disclosure of its efforts.

The bill would also reverse Ex-Im guidelines that prevent financing for overseas power plants that decline to adopt green technology. Such a policy reversal is heavily championed by the coal industry and opposed by environmentalists.

Fincher sent a letter and analysis of the bill to House members on Tuesday urging them to support this legislation, which he plans to introduce at the start of the new Congress, said Fincher chief of staff Jessica Carter.

“Why should we make our constituents wait on job growth? I strongly believe we must move forward with these much-needed reforms to the Ex-Im Bank by acting on a five-year reauthorization bill,” Fincher wrote in the letter.

In September, Fincher showed a draft of the proposal to his colleagues.