Senate panel rejects Trump's nominee to run Export-Import Bank

20 December, 2017, 00:41 | Author: Dustin Murphy
  • Tom Williams  CQ Roll Call via Getty Images
Former Rep. Scott Garrett failed in his bid to head the Export Import Bank

During his time in Congress, Garrett once called the agency "a bank that embodies the corruption of the free enterprise system".

During testimony on November 1, Garrett said that he would keep Ex-Im running if confirmed and support a 2019 reauthorization of the lending agency. According to the bank, that service "levels the playing field for USA goods and services going up against foreign competition" and supports American jobs.

The Senate Banking, Housing and Urban Affairs Committee today shot down President Trump's pick to lead the Export-Import Bank amid bipartisan unease that former Rep. Scott Garrett (R-N.J.) would work to undermine the institution from within.

If President Trump is serious about revitalizing USA manufacturing, he should restore the Ex-Im Bank to effective operational status immediately, which means appointing a full quorum of directors deeply and genuinely committed to supporting the important role the bank plays.

"My role has changed", Garrett said. "I do commit sincerely to carry out the letter of the law as established by Congress".

The committee vote was 10-13, with Sens. Mike Rounds, R-S.D., and Tim Scott, R-S.C., breaking partisan ranks to join the panel's Democrats in opposition.

Mr. Garrett's nomination was already considered to be in trouble when Sen.

Failing to convince the Senate committee weighing his confirmation that his views on maintaining the Export-Import Bank had changed, Scott Garrett was rejected as President Trump's choice to lead the Export-Import Bank. Garrett's opponent seized on statements Garrett allegedly made in 2015 that he would not pay National Republican Congressional Committee dues because of the organization's support of gay candidates.

GE in a statement urged quick confirmation of the remaining EXIM nominees and hailed the committee vote as "a milestone for manufacturers across the USA whose customers require a fully-functioning EXIM Bank".

The committee, however, approved Trump's nominations for EXIM's first vice president, Kimberly Reed, and three other board members: former Louisiana congressman Spencer Bachus, Claudia Slacik and Judith DelZoppo Pryor.

"We are disappointed that the Senate Banking Committee missed this opportunity to get the Export Import Bank fully functioning again", responded White House legislative director Marc Short.



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