Key Votes
HR 2072 - Export-Import Bank Reauthorization Act of 2012 - Key Vote
National Key Votes
Tom Cole voted Yea (Passage) on this Legislation.
Read statements Tom Cole made in this general time period.
Stages
- May 30, 2012 Became Law Without Governor's Signature
- May 15, 2012 Senate Bill Passed
- May 9, 2012 House Bill Passed
- June 1, 2011 Introduced
Family
Issues
Stage Details
Legislation - Became Law Without Governor's Signature (Executive) - May 30, 2012
Legislation - Bill Passed (Senate) (78-20) - May 15, 2012(Key vote)
Title: Export-Import Bank Reauthorization Act of 2012
Vote Smart's Synopsis:
Vote to pass a bill that reauthorizes the Export-Import Bank for fiscal years 2012 through 2014.
Highlights:
- Reauthorizes the Export-Import Bank until the end of fiscal year 2014, whereas existing law authorized the Bank until the end of fiscal year 2011 (Sec. 2).
- Increases the lending limit for the Export-Import Bank from $100 billion to $120 billion for fiscal year 2012 and subsequent fiscal years (Sec. 3).
- Increases the lending limit from $120 billion to $130 billion for fiscal year 2013 if the Export-Import Bank meets the following requirements (Secs. 3 & 4):
- Maintains a default rate of less than 2 percent each quarter; and
- Submits a report to Congress by June 1, 2013 that contains all of the following:
- A business plan;
- An analysis of risk;
- An analysis of the Bank's ability to meet its requirements concerning small businesses and sub-Saharan Africa;
- An analysis of the Bank's ability to comply with carbon policies; and
- An analysis of the Bank's resources, and whether or not those resources are adequate to process, approve, and monitor loan authorizations.
- Increases the lending limit to from $120 billion to $140 billion for fiscal year 2014 if the Export-Import Bank meets the following requirements (Secs. 3 & 5):
- Maintains a default rate of less than 2 percent each quarter; and
- Submits a report to Congress within 10 months of the enactment date of this bill that contains certain items including, but not limited to, the following:
- Evaluates the history of the Bank's growth;
- Evaluates the “effectiveness” of the Bank's risk management policies; and
- Documents the Bank's fees for products and services; and
- Evaluates the adequacy of the Bank's loan loss reserves.
- Prohibits the Board of Directors of the Export-Import Bank from approving any transaction with a person who exports any goods or services to Iran, unless the person certifies that he or she does not engage in business transactions with Iran, effective 180 days after the enactment date of this bill (Sec. 18).
- Requires the Export-Import Bank to submit a plan to reduce default rates if the rate for any quarter is more than 2 percent (Sec. 6).
- Requires the Secretary of the Treasury to establish negotiations with other exporting countries, including members and non-members of the Organization for Economic Co-operation and Development (OECD) to reduce and eventually eliminate export subsidies (Sec. 11).
Legislation - Bill Passed (House) (330-93) - May 9, 2012(Key vote)
Title: Export-Import Bank Reauthorization Act of 2012
Vote Smart's Synopsis:
Vote to pass a bill that reauthorizes the Export-Import Bank for fiscal years 2012 through 2014.
Highlights:
- Reauthorizes the Export-Import Bank until the end of fiscal year 2014, whereas existing law authorized the Bank until the end of fiscal year 2011 (Sec. 2).
- Increases the lending limit for the Export-Import Bank from $100 billion to $120 billion for fiscal year 2012 and subsequent fiscal years (Sec. 3).
- Increases the lending limit from $120 billion to $130 billion for fiscal year 2013 if the Export-Import Bank meets the following requirements (Secs. 3 & 4):
- Maintains a default rate of less than 2 percent each quarter; and
- Submits a report to Congress by June 1, 2013 that contains all of the following:
- A business plan;
- An analysis of risk;
- An analysis of the Bank's ability to meet its requirements concerning small businesses and sub-Saharan Africa;
- An analysis of the Bank's ability to comply with carbon policies; and
- An analysis of the Bank's resources, and whether or not those resources are adequate to process, approve, and monitor loan authorizations.
- Increases the lending limit to from $120 billion to $140 billion for fiscal year 2014 if the Export-Import Bank meets the following requirements (Secs. 3 & 5):
- Maintains a default rate of less than 2 percent each quarter; and
- Submits a report to Congress within 10 months of the enactment date of this bill that contains certain items including, but not limited to, the following:
- Evaluates the history of the Bank's growth;
- Evaluates the “effectiveness” of the Bank's risk management policies; and
- Documents the Bank's fees for products and services; and
- Evaluates the adequacy of the Bank's loan loss reserves.
- Prohibits the Board of Directors of the Export-Import Bank from approving any transaction with a person who exports any goods or services to Iran, unless the person certifies that he or she does not engage in business transactions with Iran, effective 180 days after the enactment date of this bill (Sec. 18).
- Requires the Export-Import Bank to submit a plan to reduce default rates if the rate for any quarter is more than 2 percent (Sec. 6).
- Requires the Secretary of the Treasury to establish negotiations with other exporting countries, including members and non-members of the Organization for Economic Co-operation and Development (OECD) to reduce and eventually eliminate export subsidies (Sec. 11).
Legislation - Introduced (House) - June 1, 2011
Title: Export-Import Bank Reauthorization Act of 2012
Sponsors
Co-sponsors
- Spencer T. Bachus (AL - R)
- Judy Biggert (IL - R) (Out Of Office)
- Robert Dold (IL - R) (Out Of Office)
- Barney Frank (MA - D) (Out Of Office)
- Rubén E. Hinojosa Sr. (TX - D)
- Donald A. 'Don' Manzullo (IL - R) (Out Of Office)
- Carolyn McCarthy (NY - D)
- Gwendolynne S. 'Gwen' Moore (WI - D)
- David Scott (GA - D)
