Published in Last Word
The House of Representatives unveiled a “continuing resolution” on Tuesday to maintain current spending levels for federal agencies through December 11, 2014, and extend the Export-Import Bank through June 30, 2015. The measure, which is expected to be voted on next week, may also include authority requested by President Obama to conduct further operations against Islamic militants in Iraq and Syria.
The legislation sets spending levels at the current annual rate of $1.012 trillion. Action on the continuing resolution has become necessary because Congress has failed to clear any of the 12 regular appropriations bills to fund government agencies and critical programs. Congress will return following Election Day to act on the stalled appropriations measures or pass a longer continuing resolution.
The extension of the Ex-Im Bank is a critical priority for ACEC because it is an essential source of financing for many firms competing for work overseas. The Bank’s charter expires at the end of September, which prompted ACEC to pressure Congress to act.
The Senate is expected to take up similar legislation next week.
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