Trump nominee to head Export-Import Bank rejected by Senate panel

Trump nominee to head Export-Import Bank rejected by Senate panel

Trump nominee to head Export-Import Bank rejected by Senate panel

With two Republicans breaking ranks, the Senate Banking Committee Tuesday morning rejected President Trump's nominee to head the Export-Import Bank, amid fears that former Rep. Scott Garrett did not support the mission of the agency created to aid USA exporters seeking financing.

Despite pledges by Garrett to keep the agency "fully functioning" should he be confirmed by the Senate, lawmakers - including some Republicans - remained unconvinced.

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 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". My role has changed.

But Garrett was rejected in a 10-13 vote on Tuesday, with two Republicans - Sens.

Rep. Bonnie Watson Coleman (D-12) supported the decision to block Garrett's nomination.

"Mr Garrett was a leader of the effort to slam shut the doors of America's export financing bank, and he can't hide his contempt for ExIm", Senate Democrat Sherrod Brown said shortly before the vote.

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"In rejecting the nomination of Scott Garrett to lead the Export-Import Bank of the United States, Senators - both Democrats and Republicans, alike - affirm how damaging his leadership would be to this vital agency", she said in a statement.

Garrett, a founding member of the conservative House Freedom Caucus, lost his 2016 re-election bid in large part due to anti-gay remarks he made.

The Ex-Im Bank has not had a board quorum since 2015, after Senate Republicans blocked two bipartisan nominees to the Ex-Im Board that were put forward by President Barack Obama.

According to The Hill, the Banking Committee did approve four other nominees to the Ex-Im board. Since his nomination, he had expressed a newfound respect for the agency, but his conversion was not convincing to a majority of the Banking Committee.

"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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