Senate passes Ex-Im Bank amendment

The Nuclear Energy Institute (NEI) praised the U.S. Senate for passing an amendment on Sunday that would reauthorize the Federal Export-Import Bank (Ex-Im Bank) to continue its operations after its authorization expired at the end of June.

"This action will bring stability and confidence that U.S. exporters of nuclear energy technology need to remain competitive and create American jobs as a result of new projects in international markets," NEI Vice President Alex Flint, said.

The bill will authorize the bank until Sept. 30, 2019. 

“A strong and reliable Ex-Im Bank is one of the most important tools to enable U.S. companies to compete and secure business in overseas markets," Flint said. "The involvement of U.S. companies in global markets creates tens of thousands of jobs and benefits our economy in many other ways. It also advances nuclear safety, national security and nonproliferation influence in foreign nuclear programs."

The amendment is attached to a highway and infrastructure bill, which will now move to the House of Representatives. 

The New York Times recently reported that there is majority support for restoring the bank, but opponents of reauthorization include House leadership, who could potentially prevent a vote.

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