Posted on 07/27/2015 12:35:31 PM PDT by Cincinatus' Wife
The House will not vote on a multi-year Senate highway bill that revives the now-expired Export-Import Bank, House Majority Leader Kevin McCarthy (R-Calif.) said Monday.
“We’re not taking up the Senate bill,” McCarthy declared to a roomful of reporters in his office.
Instead, McCarthy urged the Senate to take up a short-term House-passed bill which extends federal highway funding for five months, without renewing the Ex-Im Bank charter. He called the House bill the “best option” for Congress before money for highways, bridges and mass transit runs out on Friday.
McCarthy’s declaration is a blow not only to the Senate, where Majority Leader Mitch McConnell (R-Ky.) and Sen. Barbara Boxer (D-Calif.) had teamed up to craft the bipartisan, long-term highway bill.
It’s also a blow to backers of the Ex-Im Bank, who had hoped the 81-year-old institution would be revived by catching a ride on the back of the Senate transportation bill. The charter for the bank, which provides loan guarantees to help U.S. corporations sell goods overseas, expired on June 30.
The Senate transportation bill authorizes highway funding for six years, but only provides three years in funding.
McCarthy, who controls the House floor schedule, said the lower chamber plans to leave for the August recess on Thursday. And he said it’s not fair for the Senate to send the House a massive 1,000-plus-page bill just days before the funding deadline.
Upon hearing about McCarthy’s remarks, Boxer, shot back at the fellow Californian, saying the House should follow the Senate’s lead and stay in session a week longer rather than decamp for the summer recess.
“You know what, we’re staying an extra week in August. You can stay an extra week in August. That’s not such a terrible thing,” Boxer said in a speech on the Senate floor.
McCarthy “says don’t send us a bill because we’re going home. Well, that’s their choice.
“If the House chooses to go out on vacation or a work period of whatever they do, that's their business. But it's our job to fix the problems we're facing,” Boxer said.
Another way out of the funding mess is an even shorter-term highway bill, perhaps one that provides just two or three months of transportation funding. McCarthy didn’t rule out that possibility, but he made clear his chamber had already passed a more-preferable five-month patch that gives Congress enough time to hammer out a longer-term, House-Senate deal.
“The five-month extension is the best bill to have so you can get a long-term bill that is fully paid for,” McCarthy said.
This story was updated at 3:23 p.m.
Yes, every house member is going to sit down and read every one of those 1,000 pages, just like every senator did.
I'm sure of that. Boehner told me so.
Whatever happened to all spending bills originate in the House?
Off-shoring is caused by over-regulation and over-taxation, more regulations and taxes won’t help.
I oppose subsidizing business in any form, I also oppose over-regulation and stupid restrictions on some companies in favor of others.
If the bank is that profitable, then totally privatize it
That was 30 years ago! The world of international trade has changed dramatically since then.
Even the Washington Post, normally a big backer of anything the dictator wants, concludes that the accounting is erroneous for the Ex-Im bank. Apparently you’ve never done any creative accounting.
40% of the bank’s money subsidizes Boeing, 10% subsidizes GE...Both are huge doners to the Clinton cartel.
And there's the problem right there.
Regarding the so-called federal highway bill, patriots need to consider that, regardless that the RINO-controlled House has read the Constitution out loud at the beginnings of the last three legislative sessions, the states have never delegated to the feds, expressly via the Constitution, the specific power to regulate, tax and spend for vote-winning intrastate highway purposes.
In fact, when the 14th Congress put a comparable bill on President James Madison’s desk to sign in 1817, Madison generally regarded as the father of the Constitution, Madison vetoed the bill. He explained to Congress that no clauses in Congress’s constitutional Article I, Section 8-limited powers justified the bill. (The only roads that the states have authorized Congress to build are postal roads (1.8.7).
Veto of federal public works bill
Yes, the nation’s post-FDR era national highway system was built outside the framework of the Constitution imo, without the required Article V consent of the states; so what’s new?.
Oh I’ve done creative accounting. But it’s pretty rare when creative accounting generates cash.
Oh I’ve done creative accounting. But it’s pretty rare when creative accounting generates cash.
American Jobs.
Or maybe 100 million Americans on food stamps isnt enough and you want more.
So you think government should only be involved in profit-killing ventures and subsidizing imports?
non sequitur
Yes, because that's the choice. End the Export Import Bank or have 100 million Americans in the poor house. Brilliant argument. Could I take out a loan from the Export Import Bank and donate some of the money to you so that you start making arguments in favor of Democrat talking points.
Don’t twist my words.
If you read the following article in its entirety I believe you will change your perception:
( and always be suspicious of information from the Chamber of Commerce)
If you read the following article in its entirety I believe you will change your perception:
( and always be suspicious of information from the Chamber of Commerce)
Wrong. It still sounds like they are generating cash. Apply whatever accounting method you want, At the end of the day cash is king.
Their default rate is 0.175%. That doesn’t sound like inordinate risk to me.
We spend money on giving corporations help in selling overseas and the companies keep the profit offshore? What a deal.
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