Export-Import Bank Reauthorization: Comparison of H.R. 5068 and S. 3938 (CRS Report for Congress)
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| Release Date |
Jan. 24, 2007 |
| Report Number |
RL33735 |
| Report Type |
Report |
| Authors |
James K. Jackson, Foreign Affairs, Defense, and Trade Division |
| Source Agency |
Congressional Research Service |
Summary:
The 109th Congress considered H.R. 5068 and S. 3938, both titled theExport-Import Bank Reauthorization Act of 2006, which would reauthorize theBank's charter for five years through September 30, 2011. The House measure wasintroduced by Representative Pryce on March 30, 2006, and was sent to the HouseFinancial Services Committee, which has jurisdiction in the House ofRepresentatives over the Bank. The measure was approved with four amendmentsby the Committee on June 14, 2006, and passed the full House unanimously withoutamendment on July 26, 2006. In the Senate, S. 3938 was introduced September 26,2006 by Senator Crapo and sent to the Committee on Banking, Housing, and UrbanAffairs, which has jurisdiction. The measure passed the Senate with an amendmentby unanimous consent on September 30, 2006. As of this date, Eximbank'sappropriations are continuing under P.L. 109-289 (H.R. 5631) as amended by P.L.109-369 and P.L. 109-383. On December 6, 2006, the House approved S. 3938 inlieu of H.R. 5068 to reauthorize the Bank's authority through September 30, 2011.The measure was signed by Bush on December 20, 2006, and was designated P.L.109-438. H.R. 5068 would have made the Bank's operations more transparent and itwould have required the Bank to take other actions and to prepare various reports toimprove the Bank's relative competitive position. Furthermore, H.R. 5068 wouldhave authorized an office within the Bank to increase the total amount of loans andguarantees that go to support exports by "socially and economically disadvantagedsmall business concerns and small business concerns owned by women." Themeasure also would have provided for a number of changes to improve thecompetitiveness of the Bank's programs, directed the Bank to study how it can assistnew or impoverished democracies, and provided greater assistance to exportsinvolving renewable energy. S. 3938 directs the Bank to submit annually toCongress a list of U.S. commercial sectors and products that would suffer "adverseeconomic impact" due to Eximbank support of projects abroad.This report provides a side-by-side comparison of the two bills.
