EX-IM HOUSE VOTE EXPECTED TODAY
The full U.S. House is expected to vote today on a new Ex-Im reauthorization bill, H.R. 3611, sponsored by U.S. Rep. Steve Fincher (R-Tenn.). Proponents of the bill are expected to employ a rarely used parliamentary procedure, known as a discharge petition, to bring the bill to the floor for a vote.
H.R. 3611 is a five-year reauthorization bill that will make the Bank's practices more accountable and enhance taxpayer protections by requiring the Bank to become more solvent and self-sufficient.
With a focus on transparency, accountability, and job growth, the bill's major reforms include:
· Strengthening risk management;
· An increase in loss reserves;
· Increasing small business lending requirements;
· Incentivizing an end to government-supported international export subsidies; and
· Greater anti-corruption safeguards.
Reauthorization of the Bank is a legislative priority of the Business Council of Alabama. Following the news of Speaker John Boehner (R-Ohio) stepping down and the remaining legislative calendar, this seems to be the last realistic opportunity for a vote this year.
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NAM HOSTS MANUFACTURING MEET IN NATION'S CAPITAL, EXPORT-IMPORT BANK'S NEED IS PROMOTED AT CONFAB
The Business Council of Alabama's national partner, the National Association of Manufacturing, just concluded its fall meeting of the board of directors that includes more than 300 CEOs and manufacturing leaders who give voice to NAM's impact and influence that achieve results.
"We're here because we believe, and we want to make stronger, manufacturing and American Exceptionalism: free enterprise, competitiveness, individual liberty and equal opportunity," NAM President and CEO Jay Timmons said. "So let's now go boldly in the face of the competition, determined to uphold our highest ideals. Let's win. Let's win together." Many board members gave testimonials during Timmons' report, including Vermeer Corp. CEO and board chair Mary Andringa. She spoke of the NAM's ongoing efforts to reauthorize the U.S. Export-Import Bank. The BCA is part of a national movement to reauthorize the bank that finances overseas trade deals in countries where conventional financing isn't available. Emerson Chairman and CEO David Farr spoke about the NAM's crucial victory on Trade Promotion Authority. Members delved into the policymaking issues consequential to manufacturing and heard the latest political developments in Washington. Hot topics included the NAM's legislative advocacy, legal action and voter outreach and how board members, as part of the manufacturing army, can magnify the NAM's influential voice to change an otherwise gridlocked Washington. On the policy front, board attendees heard from FedEx Corp. Chairman, President and CEO Frederick Smith about what drives economic growth in America. A panel on "Fueling America" featured Exxon Mobil Corp. Chairman and CEO Rex Tillerson who discussed the importance of the energy industry to the U.S. economy, the growing demand for energy around the world, the most effective means to reduce emissions, and other environmental impacts from energy use and the need for public policies that incentivize investment and innovation to ensure we reach our shared goals, the NAM said.
Chris Womack, Executive Vice President and President, External Affairs, Southern Company, moderated the panel.
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Obama Signs Bipartisan Tweak of Health Care Law and Redefines 'Small Business'
The Hill (Ferris 10/8) "President Obama has signed into law a bipartisan change to ObamaCare, marking a rare instance that he and Congress have agreed on a tweak to his signature legislative accomplishment. The president announced late Wednesday that he had signed that bill.
"The legislation, called the Protecting Affordable Coverage for Employees (PACE) Act, had been approved overwhelmingly in both GOP-led chambers, which some members of both parties have hailed as a thawing of political tension over 'fixes' to the Affordable Care Act.
"Since 2009, lawmakers have agreed on few changes to the healthcare law, including legislation repealing a tax-filing provision that required more paperwork. The PACE Act deals with an obscure provision in ObamaCare that changed the definition of a small employer from one with 50 employees or fewer to one with 100 employees or fewer, beginning in 2016. The move was intended to stabilize the group market under ObamaCare, but had been protested by small businesses across the country that feared higher premiums for their workers."
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Behind McCarthy's decision to bail
"And, of course, there was Benghazi. The California Republican's monumental blunder - his claim that the panel was created to undermine Hillary Clinton's presidential campaign - became an unavoidable distraction.
"In the hours leading up to the party nominating contest, McCarthy concluded the job was not for him. Even if he could win, he'd be unable to move a must-pass debt ceiling increase. He figured he'd have an equally hard time shepherding through a critical spending deal.
"The party, as he would say after the announcement that left the entire Capitol dumbfounded, needed a new face.
"He had missed his moment."
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CONTACT YOUR REPRESENTATIVES
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202.225.4921
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