Extension of Ex-Im Bank too short but still welcome

It is good that Congress voted this week to extend the charter of the Export-Import Bank, though it was only for nine months. The charter of the trade bank, which helps finance export deals for American companies, was set to expire Sept. 30. Normally, reauthorization is routine, but this year some tea party groups crusaded for closing the bank, which is particularly important to the aviation industry. Rep. Tim Huelskamp, R-Fowler, opposed the extension, calling the bank “an outdated, Depression-era program.” But Sen. Maria Cantwell, D-Wash., complained that the extension shouldn’t have only been until June 30, 2015. “Make no mistake about it,” she said, “this will cost us jobs in the United States of America.” – Phillip Brownlee

This story was originally published September 19, 2014 at 7:06 PM with the headline "Extension of Ex-Im Bank too short but still welcome."