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Update: Senate approves US Ex-Im reauthorisation
16 May 2012
Following last week’s vote by the US House of Representatives the US Senate has voted to renew the charter of the Export-Import Bank of the United States, as well as raise its lending cap.
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The US Senate voted last night to reauthorise the Export-Import Bank of the United States and raise its lending cap to $140 billion by 2014. The Senate rejected five amendments to the HR 2072 bill and voted 78 to 20 in favour of the reauthorisation of the bank through 2014 and an extension of its exposure cap to $140 billion.
The bill now goes to President Barack Obama who has publicly supported the bank.
Last week the House voted 330-93 in favour of the bill. All 93 dissenting votes were Republicans.
A successful vote by the Senate was widely expected following...
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