Senators push $70 billion funding deal to support Trump’s critical minerals push, reports
- Lawmakers try to inject an extra $70 billion
Senators will introduce legislation on Wednesday to reauthorise funding for the United States Export-Import Bank for the next decade, as lawmakers try to inject an extra $70 billion into the agency to support U.S. President Donald Trump’s critical minerals push, the Financial Times reported on Wednesday.
Kevin Cramer, a Republican senator from North Dakota is co-sponsoring the reauthorization legislation with Democrat Mark Warner, the report said.
US to launch USD12bn critical minerals stockpile to ease China reliance
Cramer told the Financial Times that Trump was “all in” on funding the Ex-Im Bank, adding the U.S. President “sees the value” of the institution.
Cramer also told the newspaper that he would advocate for Ex-Im’s lending cap to be lifted from $135 billion to $205 billion as part of the reauthorization package.
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