Washington - With the House scheduled to begin their August recess today, it is clear that the Export-Import Bank will remain shuttered for the foreseeable future. Proponents viewed a July highway and transit bill as their "best chance" to resurrect the now-defunct bank. Heritage Action released the following statement from chief executive officer Michael A. Needham:
"Despite the very best efforts of the Washington establishment, the Export-Import Bank remains closed. The bank's expiration was the culmination of a three-year effort waged by conservatives against a vast, well-funded network of consultants, lobbyists and big-government interest groups. House Majority Leader Kevin McCarthy stood strong for conservatives. If the Republican Party hopes to attract voters who gravitate to a message built around opportunity for all and favoritism to none, GOP leaders must follow his lead and preserve this historic policy victory."