John A. Rice

Bid to revive Export-Import Bank gets a boost

Bid to revive Export-Import Bank gets a boost

Mounting job losses and a surprise political development are creating what may be another chance to revive a federal agency that fosters U.S. exports.

The shutdown of the Export-Import Bank on July 1, once expected to be short-lived, has been looking more like a permanent victory for conservative Republicans in the House who want to kill off the agency, even though a majority in Congress support it.

Business, too, has backed the bank's reauthorization. But until that happens, a growing number of companies are taking steps that will reverberate through the economy. General Electric Co. this week said it would shift 350 jobs to Canada to take advantage of export financing...