The House on Tuesday passed legislation to revive the Export-Import Bank, using a rarely employed parliamentary move that circumvented the Republican leadership.
Lawmakers voted 313-118 to reauthorize the bank, which was blocked from taking on new business on June 30 after conservatives blocked a measure to keep it operating. The House vote occurred after a bipartisan group of lawmakers garnered 218 votes on a discharge petition, which forces a floor vote on a bill even if the House Speaker won't call for one.
"We showed that Democrats and Republicans can work together to overcome the obstruction caused by an ideologically driven minority that put its own uncompromising principles over the needs of the American people," said Rep. Maxine Waters, D-Calif., who is the ranking member on the House Financial Services Committee.
The fight against the bank has been driven by Financial Services panel chairman Jeb Hensarling, R-Texas, who said he believes it's riddled with corruption and serves as a form of corporate welfare.
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