Senate sends Obama bill to renew Ex-Im Bank

Reuters News
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Posted: May 15, 2012 5:04 PM
Senate sends Obama bill to renew Ex-Im Bank

WASHINGTON (Reuters) - The Senate voted on Tuesday to renew the U.S. Export-Import Bank's charter through September 2014 and raise its lending cap to $140 billion, overwhelming objections from conservative Republicans who want to shut the bank down.

The bill now goes to President Barack Obama, who is expected it to sign into law. The House of Representatives passed the same legislation last week by a vote of 330-93.

(Reporting By Doug Palmer)