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Senate Banking Committee Rejects Trump's Nominee to Lead Ex-Im Bank

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

As a representative in Congress (before being voted out of office in 2016), Garrett had suggested that the bank should be completely abolished.

At his November confirmation hearing, Ranking Member Sherrod Brown (D-Ohio) said putting Garrett, who has slammed the bank as "corporate welfare", in charge of Ex-Im "would be like putting an arsonist in charge of the fire department". "I think they'll work together to make the bank better and more user-friendly to the vast majority of American businesses who need this economic development tool".

WASHINGTON ― The Senate banking committee rejected President Donald Trump's choice to lead the Export-Import Bank on Tuesday, voting 10-13 against advancing his nomination to the full Senate.

If President Trump is serious about revitalizing US 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. "I am not in a legislative function".




Sen. Sherrod Brown (D-Ohio) described Garrett as "a leader of the effort to slam shut the doors of America's export financing bank, and he can not hide his contempt for Ex-Im". "At the same time, the NAM is firmly opposed to the nomination of former U.S. Rep. Scott Garrett (R-NJ) as president of the Ex-Im Bank given his longstanding opposition to its mission and his past actions to destroy the agency". 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.

"Today's Senate Banking Committee vote on Ex-Im board nominees is a milestone for manufacturers across the USA whose customers require a fully-functioning Ex-Im Bank", said a GE spokesperson.

Garrett told the committee then to "rest assured that I'm committed to keep the Bank fully open and fully operational, period".

"We are disappointed that the Senate Banking Committee missed this opportunity to get the Export Import Bank fully functioning again. We will continue to work with the committee on a path forward". Opposition to the Ex-Im bank predates Trump's political ascendance, and the failure to confirm directors for its board has stifled the bank's normal operations for more than two years.

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