House approves U.S. Export-Import Bank reauthorization bill

The U.S. House of Representatives passed the reauthorization bill for the U.S. Export-Import Bank on Tuesday, the Nuclear Energy Institute (NEI) announced.

The bill, the Export-Import Bank (Ex-Im Bank) Reform and Reauthorization Act of 2015, extends the bank’s charter through 2019. NEI President and CEO Marvin Fertel issued a statement praising the vote.

"Beyond creating tens of thousands of jobs, the participation of U.S. companies in global nuclear energy markets advances nuclear safety, national security and nonproliferation influence in foreign nuclear energy programs,” Fertel said. “Nearly 70 reactors are under construction in 15 countries, and scores more are planned. The Export-Import Bank plays a central role in leveling the playing field for U.S. manufacturers and providers of nuclear energy services to successfully compete in this marketplace, where nations like Russia benefit from state financing to support their business tenders.”

The House approved the bill through a vote of 313 for and 118 against.

Fertel also urges that the U.S. Senate should also approve the reauthorization of the institution. The Ex-Im Bank’s authorization charter expired in July of 2015 and has been unable to take on its normal operations or new contracts since that time.