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Congress Revives the Export-Import Bank; Establishment Win
ABC News: With little fanfare, Congress has revived the federal Export-Import Bank five months after allowing it to expire, handing a victory to business groups and a defeat to tea party conservatives and the billionaire GOP donor Koch Brothers.
A measure extending the bank through 2019 was included in a massive transportation bill that cleared the House and Senate Thursday and is expected to be signed by President Barack Obama. The small federal agency makes and guarantees loans to help foreign customers buy U.S. exports. Business groups like the U.S. Chamber of Commerce say it's necessary for U.S. competitiveness, since most overseas competitors rely on similar government help.
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