Finance, bros The U.S. Congress kicked off the U.S. International Development Finance Corporation reauthorization talks with a rare show of bipartisanship <https://t.devex.com/dc/kyXVoDpAY__Vu56MNr4POoCHqzIMxFmx3uh1aeA9isGdJh4J2dpVuhIurzKbmXmSjhEj5KbqAMYSeYJOpG8Kc5Jo01MaVSVcOfbURWi_XcGtaGwMvnfJLVmzTevDVk2mXORJu6C6nUpEeyWsjGnyhjWAhBtN2EAFZk75VxRT2N1lLuzSoybAVnp_-es4jpq6_9tDCpnI727INLaQT7bTPMwGtZtQEW-3hYCuDY73P5IZs9flur4BsQ-iKKcT_BoZGV4LbRbXgbnlLQiEBhbccQ==/Njg1LUtCTC03NjUAAAGZKQHBsgoAt720Y8rbf4YLAF74wsjXHs5kMA0yv5KZJIQGxwYednFaMHCLY7pz-B_zlH9BEPo=>, as the agency nears its $60 billion lending cap and faces an Oct. 1 deadline to have its mandate reupped. *Lawmakers are pushing to double its cap to $120 billion or more*, with Republican Rep. Young Kim calling the process “urgent” and stressing the need to keep DFC <https://t.devex.com/Njg1LUtCTC03NjUAAAGZKQHBsnW9mKgwheAjOhQkynFPM48QfvOIehMUdeTGLst9ZA5a1s1-Oaq7tkgsYJV8BixUik4=> “agile, effective, and aligned with America's national security priorities.” The House passed a reauthorization bill last year, but the Senate stalled. *A key hurdle? How DFC’s equity investments are classified* — they’re currently treated as grants, limiting its ability to scale. Some lawmakers want them scored like loans, but budget officials aren’t on board, Devex Senior Reporter Adva Saldinger writes. Witnesses, including former Rep. Ted Yoho and former Overseas Private Investment Corporation CEO Robert Mosbacher, pushed for expanding investments, raising the spending cap, and fixing equity scoring. They also *highlighted USAID’s role in finding DFC investment opportunities*, despite limited staff abroad. Yoho defended USAID’s past work, saying: “They're often the ones that are boots on the ground that invite in that private equity.” And with China ramping up global investments, Rep. Sheri Biggs underscored *DFC’s role in countering China’s Belt and Road Initiative*, calling it “America’s primary vehicle for soft power abroad.” *Read:* Congressional hearing kicks off DFC reauthorization efforts <https://t.devex.com/dc/kyXVoDpAY__Vu56MNr4POoCHqzIMxFmx3uh1aeA9isGdJh4J2dpVuhIurzKbmXmSjhEj5KbqAMYSeYJOpG8Kc5Jo01MaVSVcOfbURWi_XcGtaGwMvnfJLVmzTevDVk2mXORJu6C6nUpEeyWsjGnyhjWAhBtN2EAFZk75VxRT2N1lLuzSoybAVnp_-es4jpq6_9tDCpnI727INLaQT7bTPMwGtZtQEW-3hYCuDY73P5KdQjT7lgp-gYSHSmYoabsrxdqhMkS7bhjn2ESeI-Y_eg==/Njg1LUtCTC03NjUAAAGZKQHBsgoAt720Y8rbf4YLAF74wsjXHs5kMA0yv5KZJIQGxwYednFaMHCLY7pz-B_zlH9BEPo=> *Background reading:* Five years in, DFC navigates growth, reform, and global competition <https://t.devex.com/dc/kyXVoDpAY__Vu56MNr4POhwJX4IQzAOIDV4z4rU8PlXwsN-ieCF7Zv_zho-N_q-diO_QFZko2f9i3ZlyAenyX4bEYDZhGH2lVCrliJpg9MdDqIHaYBhGetCTArr-_X0iPWD5LU04n5hMCrjLfXfx_WeQeUsSSoLsrjXW9wZs9GGPNRxHSh6Cs-B6-gRf5c5jOSUNzjKIloM0l5fN0sA46npn9mXY7XZ9_4LTypo8wSJLy1_5nWfNBkb_7att51kq8efm-K9_h5gKGphy0Oek7Q==/Njg1LUtCTC03NjUAAAGZKQHBsgoAt720Y8rbf4YLAF74wsjXHs5kMA0yv5KZJIQGxwYednFaMHCLY7pz-B_zlH9BEPo=>