More on Fiscal Responsibility
WASHINGTON, D.C. –Months after the Export-Import Bank of the United States’ authority lapsed, the House of Representatives voted again to approve the reauthorization of the Export-Import Bank as an amendment to the 5-year, $300 billion highway bill. The bill now heads to the Senate where it is expected to pass.
Though nominally a transportation bill, this week's long-term highway trust fund extension touches on several issues near and potentially dear to the hearts of the financial services policy world. Though some, perhaps many, items offered as amendments may not find their way into the overarching bill, many could. Here's a look at what to watch for, beginning with Tuesday's 3 p.m.
The Export-Import Bank is one step closer to revival. The House voted overwhelmingly Tuesday afternoon (313-118) to reauthorize the bank's charter, which expired in late June.
Tuesday's vote follows a rarely used procedural move, called a "discharge petition," which freed the legislation from committee.
WASHINGTON, D.C. – Today at a roundtable with American small businesses convened by the White House, President Barack Obama and Representative Denny Heck joined small businesses from around the country to call on Congress to vote immediately on reauthorization of the Export-Import Bank, which is crucial to the national and regional economy.
WASHINGTON, D.C. – Below is a statement from Congressman Denny Heck (WA-10) following the release of the President’s budget for Fiscal Year 2016:
“The President’s budget proposal includes common-sense ideas that should be included in any final agreement negotiated within the legislative branch.
Washington state’s congressional delegation voted unanimously Wednesday in favor of a package of about 50 federal tax break extensions that includes a one-year continuation of the federal income-tax deduction for sales taxes.
“It means a nearly a half-billion dollars injected into our state’s economy. That translates somewhere between 2,000 and 3,000 jobs created,” Democratic Rep. Denny Heck of Olympia said in a telephone interview before the 378-46 vote. “It’s on average about $550 in the pockets of the people who itemize.”
WASHINGTON, D.C. – To support the American economy and workforce, Representative Denny Heck, D-Wash., will introduce the Protect American Jobs and Exports Act of 2014, which calls for a seven-year reauthorization of the Export-Import Bank of the United States and an increase in the lending cap to $175 billion.
Proposed legislation will extend the bank’s charter until 2021, and extend the current cap by $5 billion each year.