Number: RL33735
Title: Export-Import Bank Reauthorization: Comparison of H.R. 5068 and S. 3938
Authors: James K. Jackson, Foreign Affairs, Defense, and Trade Division 
Abstract: The 109th Congress considered H.R. 5068 and S. 3938, both titled the Export-Import Bank Reauthorization Act of 2006, which would reauthorize the Bank's charter for five years through September 30, 2011. The House measure was introduced by Representative Pryce on March 30, 2006, and was sent to the House Financial Services Committee, which has jurisdiction in the House of Representatives over the Bank. The measure was approved with four amendments by the Committee on June 14, 2006, and passed the full House unanimously without amendment 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 Urban Affairs, which has jurisdiction. The measure passed the Senate with an amendment by unanimous consent on September 30, 2006. As of this date, Eximbank's appropriations 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 in lieu 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 it would have required the Bank to take other actions and to prepare various reports to improve the Bank's relative competitive position. Furthermore, H.R. 5068 would have authorized an office within the Bank to increase the total amount of loans and guarantees that go to support exports by "socially and economically disadvantaged small business concerns and small business concerns owned by women." The measure also would have provided for a number of changes to improve the competitiveness of the Bank's programs, directed the Bank to study how it can assist new or impoverished democracies, and provided greater assistance to exports involving renewable energy. S. 3938 directs the Bank to submit annually to Congress a list of U.S. commercial sectors and products that would suffer "adverse economic impact" due to Eximbank support of projects abroad. This report provides a side-by-side comparison of the two bills.
Pages: 43
Date: January 24, 2007