Senate OKs Bill to Reopen Ex-Im Bank, Replenish Highway Trust Fund

CongressThe Senate voted 83-16 Thursday to pass a $305 billion highway funding bill that includes a provision to reauthorize the Export-Import Bank, The Hill newspaper reported Thursday.

Vicki Needham writes the Fixing America’s Surface Transportation Act, which was approved by the House in a 359-65 vote, now heads to the White House and lawmakers expect President Barack Obama to sign the bipartisan bill by Friday.

The newspaper quoted Sen. Mark Kirk (R-Ill.) as saying he believes a revival of the Export-Import Bank could help U.S. manufacturing companies compete in the international market.

Reuters’ David Morgan reported the FAST Act would renew the bank’s charter through Sept. 30, 2019.

The bill would also provide about $280 billion to help the Highway Trust Fund finance public transportation projects without a gas-tax increase, the report said.

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