The U.S. Export-Import Bank’s ability to compete with similar lenders from nations including China and Brazil has been hurt by questions stemming from last year’s reauthorization fight, according to the bank’s chairman.
The U.S. Senate today averted the fearsome specter that has stalked the chamber for weeks: majority rule. Much as small-D democrats may not like it, there is reason to be glad the capital-D Democrats and their Republican colleagues found a way out of the procedural paper bag that so often renders their beloved institution impotent.
Senate Democratic leaders are forcing a confrontation with Republicans to end delays in confirming seven of President Barack Obama’s nominees including Labor secretary and head of the Environmental Protection Agency.
U.S. Export-Import Bank Chairman Fred Hochberg asked Congress for a 40 percent increase in the loan limit to $140 billion for fiscal year 2015 as borrowing by companies closed in on the current maximum.
Export-Import Bank Chairman Fred Hochberg plans to provide more financial aid to U.S. corporate jet manufacturers, branching out from a traditional support for Boeing Co. to help an industry where demand has suffered.