Sen. Charles Schumer (D-N.Y.) wants to use an Africa trade bill as a vehicle to reauthorize the Export-Import (Ex-Im) Bank.
Ex-Im’s charter is set to expire on June 30, and many observers expect its authority to lapse.
{mosads}“We should look at adding Ex-Im onto [the Africa trade bill] before it moves forward,” Schumer told reporters on Thursday. “We should keep moving forward. There are many opportunities — or there are several opportunities — upon which we can add the Ex-Im Bank.”
The House approved a bill granting trade preferences to African countries on Thursday. The Senate must still take up the legislation.
It seems unlikely Ex-Im’s extension would be added to the Africa bill, however, since it would then have to be approved by the House for a second time.
The bank’s supporters are eying a highway bill that Congress must pass next month as a possible vehicle. Highway spending will expire at the end of July without an extension.
Republicans are divided over whether to reauthorize the bank, with opponents arguing it unfairly helps politically connected businesses.
It has strong support in the Senate, however, where on Wednesday, lawmakers held a test vote to show more than 60 members will back it.