House Votes to Raise Export-Import Bank’s Lending Cap 40%
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The U.S. House passed legislation to increase the Export-Import Bank’s lending authority 40 percent by 2014, boosting President Barack Obama’s efforts to create manufacturing jobs by doubling exports in the next two years.
The measure, passed on a 330-93 vote, will go to the Democratic-controlled Senate, where Majority Leader Harry Reid said he plans to seek quick action on the measure. The legislation was supported by 183 Democrats and 147 Republicans. Republicans cast all 93 votes against the measure.