House Votes to Resurrect Export-Import Bank

Washington — Tonight, 127 House Republicans joined all but one Democrat in voting to resurrect the now-defunct Export-Import Bank (H.R. 597). Heritage Action released the following statement from chief executive officer Michael A. Needham:

“In July, conservatives delivered a powerful victory for the American people by forcing the Export-Import Bank to shut its doors. The taxpayer-backed bank was one of the purest forms of corporate welfare. Tonight, House Democrats and many Republicans voted to restart this slush fund for corporate welfare.

“Although the cronyists on K Street are celebrating, the bank remains closed. Senator McConnell has promised not to bring this bill to the floor and given the tactics used by Democrats and these Republicans, the new GOP leadership team should make clear the Export-Import Bank will not be added to any other bill.

“If conservatives — and the Republican Party as a whole — want to win the confidence of voters they must fight corporate welfare. The importance of preserving this victory cannot be overstated.”