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Senate Reauthorizes Export-Import Bank

Bill Clark/CQ Roll Call File Photo
The Senate defeated an amendment from Sen. Mike Lee that after one year of reauthorization would terminate the bank.

But Democrats ultimately agreed to allow amendments to the bill after Republicans threatened to derail the measure by tanking a procedural vote.

While many Republicans back the bill, conservatives see the bank as a form of corporate welfare that comes at a time when the annual deficit has been more than $1 trillion in recent years.

Conservative groups such as the Club for Growth and Heritage Action opposed the reauthorization.

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