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2015.10.2704:11:20UTC+00House approves measure to revitalize Ex-Im Bank

The House of Representatives approved a bill reauthorizing the US Export-Import Bank, seeking to bypass conservatives who have halted the institution from funding companies' overseas sales for nearly four months.

With 246-177 votes, the measure would renew the bank through September 2019. A final vote is scheduled Tuesday, and the Senate then would decide on the bill.

The Ex-Im Bank provides loans and other support to overseas clients of American firms, including General Electric Co. On June 30, its chartered expired and it has failed to render new financial assistance to customers since then.

The matter has divided Republican legislators. Some said huge companies do not need government support, but others indicated it helps US entities create jobs.

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