House votes to revive Export-Import Bank

By Pete Kasperowicz, Pete Kasperowicz

Published December 20, 2015

The House overwhelmingly passed legislation Thursday that would fund federal transportation programs for five years, and would also bring back to life the Export-Import Bank.

Republicans allowed the charter of the export finance agency to expire over the summer, and since then, it has only been able to service existing loans and loan guarantees. Those loans go to overseas companies for the purpose of buying U.S. goods and services.

Conservatives see the bank as a form of corporate welfare that should be extinguished, and as expected, dozens of Republicans voted against the bill, in part for that reason.

The bill passed 359-65, and all the "no" votes came from Republicans.