House Majority Leader Eric Cantor’s primary loss Tuesday shocked K Street and has left the business community without a crucial, well-placed ally in the ongoing battle between conservative and pro-business factions within the GOP.
The Virginia Republican’s defeat by a tea-party-backed political novice could deal a setback to the already toned-down summer agenda of the business community. In particular, business lobbyists working in support of the Export-Import Bank’s re-authorization by the Sept. 30 expiration say Cantor’s loss will only embolden the conservative Republicans who wish to block the bank.
“It is shocking,” said one business lobbyist speaking on the condition of anonymity. “As for policy, this completely kills any chance of immigration reform this year and surely imperils Ex-Im.”