House Votes Down Measure That Would Block Iran From Receiving Taxpayer-Backed Subsidies
The House today rejected an amendment that would have prohibited the Export-Import Bank from providing loans, loan guarantees, and credit to state sponsors of terrorism such as Iran.
Rep. Ed Royce, R-Calif., chairman of the Foreign Affairs Committee, introduced the amendment amid concerns that President Barack Obama would issue waivers to state sponsors of terrorism that would allow them to receive taxpayer-backed subsidies from the government bank.
Republicans, however, helped Democrats defeat the amendment, 244-183.
“Some parts of U.S. law, most notably in the Foreign Assistance Act, does prevent Ex-Im from engaging with state sponsors of terrorism,” Royce said on the House floor. “But these commonsense prohibitions are subject to presidential waivers, and we have seen the president abuse waivers to pursue his agenda over and over again on Iran.”
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