WASHINGTON — The Democratic-controlled House is on track to pass a measure renewing the charter of the Export-Import Bank, a U.S. agency that provides loans and other help to foreign buyers of U.S. exports.
But Friday’s vote appears likely to break mostly along party lines and actually promises to be a setback for the bank, which has always enjoyed sweeping bipartisan support.
The White House has issued a veto threat and the legislation is dead on arrival in the GOP-controlled Senate.
Republicans say Financial Services Committee Democrats walked away from a bipartisan agreement that had been struck in advance of a committee vote last month.
Top panel Republican Patrick McHenry of North Carolina says the measure contains “all their Democrat priorities ... and zero Republican priorities.”