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

20 December, 2017, 01:24 | Author: Irene Delgado
  • Scott Garrett

Former Rep. Scott Garrett, who once was a member of the House Freedom Caucus, was rejected by the Senate Banking Committee by a vote of 10-13. This would require a distinct change of perspective from Scott Garrett, a current Ex-Im board nominee, who once opined that the Ex-Im Bank "embodies the corruption of the free enterprise system". In 2015, Garrett led a conservative effort to abolish the bank.

The Senate Banking, Housing and Urban Affairs Committee on Tuesday rejected former Rep. Scott Garrett's nomination to lead the Export-Import Bank, a federal agency that assists in financing and facilitating trade between the USA and other nations.

Garrett said during the confirmation hearing he would let the bank "continue to fully operate". "While I wish him no ill, I believe he's not the right person to be the chairman".

"I believe he's a principled man who simply believes in the abolishment of the bank", Rounds said.

"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".

Schumer called on the president to immediately withdraw Garrett's name for the job and appoint a leader that will support the work of the agency. Despite Garrett's previous stance, President Trump nominated him to lead Ex-Im in June.

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"Mr. Garrett was 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", said Senator Sherrod Brown, the top Democrat on the committee, at the hearing.

"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 Ex-Im", said Senator Sherrod Brown of OH, the top Democrat on the Banking Committee.

According to The Hill, the Banking Committee did approve four other nominees to the Ex-Im board. Without a full quorum, Ex-Im can only authorize loans under $10 million, which make up only around 15 percent of the Bank's total business.

White House Legislative Affairs Director Marc Short said in a statement they will "work with the committee on a path forward".

"Senator, if the question is, what has changed since 2015, what we have seen changed is a new administration", Garrett said.



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