House approves motion to hold vote on trade bank's renewal

Reuters News
Posted: Oct 26, 2015 7:37 PM

WASHINGTON (Reuters) - The U.S. House of Representatives approved a motion to bring the Export-Import Bank's revival to a vote on Monday, bypassing House Financial Services Committee Jeb Hensarling, who has fought to close the trade lending agency.

The 246-177 vote on the rarely used procedural motion united Democrats and Republicans in support of EXIM. The House later on Monday was set to consider legislation to renew EXIM's charter, which lapsed at the end of June, causing several large companies to lose export deals and move jobs outside the United States.

(Reporting By David Lawder; Editing by Sandra Maler)