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.
Boner will sneak in a vote at 11:59 on Wednesday night.
This is all kabuki.
possibly.....
The 'game' is played so that both Democrats and New Democrats (Republicans) get increasing taxes, less freedoms for us, and a swelling state.
Screw the game. Cruz was right, and right in line, and represents ME.
It's what I just posted to another thread, the Left's strategy of governing by manufactured crisis, versus Republican's tendency towards appeasement.
I do hope the House can stop McConnell's tree-filled bill for now so Cruz and Paul can get another crack at it, but I can't understand why the House would want to undermine McConnell like this.
-PJ
Things that make you go, HMMMMMMM
But the Senate Street Walkers had a deal?! :O
” $7 billion in profits “
I was wondering about this since I don’t know how the bank operates.
Do you happen to know the current spread on rates? Since U.S. is already borrowing to cover its expenses, I was wondering what the difference between the current tbill rate and the rate at which this bank grants loans.
President Ronald Reagan, January 30, 1984: "Exports create and sustain jobs for millions of American workers and contribute to the growth and strength of the United States economy. The Export-Import Bank contributes in a significant way to our nation's export sales."
President Ronald Reagan, January 30, 1984: "Exports create and sustain jobs for millions of American workers and contribute to the growth and strength of the United States economy. The Export-Import Bank contributes in a significant way to our nation's export sales."
Why does Boeing need to get help from the gov’t?
So you think government should only be involved in profit-killing ventures and subsidizing imports?
We do that you know. We charge tariffs on imports much lower than the taxes our domestic producers pay.
If the Export-Import bank is profitable, then it should be spun off as a private entity.
I don’t think the government should be subsidizing anything in the private sector. Anything.
Cantor would have teed up reauthorization of the Ex-Im Bank in record time. I can’t believe these guys in the House weren’t bought off by the Chamber of Corruption like the Senate was.
It's only Monday afternoon.
The House adjourns on Thursday.
That is an eternity from now.
The House will probably vote on the Senate Bill very late Wed. note or early Thurs. morning.
Stay tuned for more Kabuki Theater.
So, in other words, it's a bill for raising revenue.
The most important question is......Why are spending bills being crafted in the Senate?????!!!!
Our congressmen seem to amass significant amounts of Chinese stock. It wouldn't surprise me if this attempt to kill the bank isn't directly funded by China. They are trying to compete against Boeing. Because aircraft is one of those industries that they haven't yet challenged us on.
Why should Boeing get a gov’t subsidy? Simple question.
When our government quits subsidizing off-shoring and undoes the damage they’ve done including restoring the founding father’s import tariffs, then maybe we can talk about whether the Export bank is still needed.
Until then our exporters need all the help they can get. And if the Bank can help them while returning excess cash to the treasury then killing them is the last thing we need to do.
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