Senate Breathes New Life Into Ex-Im Bank

Law360, New York (May 15, 2012, 8:44 PM EDT) -- The U.S. Senate agreed Tuesday to extend the authority of the Export-Import Bank of the U.S., lengthening its lending authority through September 2014 and increasing its financing cap from $100 billion to $140 billion, one week after the U.S. House of Representatives did the same.

Having passed through the Senate with a 70-28 vote, the Export-Import Bank Reauthorization Act of 2012 will now proceed to President Barack Obama for final approval. The president, who has voiced his support for the bank, indicated Tuesday that such approval...
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