Senators push $70 billion funding deal to support Trump’s critical minerals push, reports

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.

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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.