Export-Import Bank Set for Comeback Despite Conservative Critics
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The Senate moved to revive the U.S. Export-Import Bank’s ability to back large deals for the first time since 2015, despite objections from conservative Republicans who say it provides corporate welfare for wealthy companies like its largest customer, Boeing Co.
Senators on Tuesday advanced the nominations of Kimberly A. Reed for president of the bank, and former Representative Spencer Bachus III and Judith DelZoppo Pryor to be members of the board of directors. If they are confirmed in final votes scheduled for Wednesday, the bank would have the three-member quorum it needs to approve deals worth more than $10 million.