Senator Cantwell Statement on Banking Committee’s Rejection of Ex-Im Bank Nominee Scott Garrett
WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA) released the following statement in response to the U.S. Senate Banking Committee’s 13-10 vote to reject Scott Garrett’s nomination to chair the Export-Import Bank (Ex-Im). As a Congressman, Garrett favored dismantling the bank.
"I applaud the Senate Banking Committee’s decision to reject Mr. Garrett’s nomination. If we want to create jobs across America, we need a fully functioning Export-Import Bank approving these deals from manufacturers that are ready to close sales and hire workers,” said Senator Cantwell. “The president needs to send us a qualified nominee who wants to see the bank succeed."
As one of the most trade dependent state in the nation, the Ex-Im Bank is vital to Washington state’s economy. Since Ex-Im was reauthorized in December 2016, six transactions worth $2.6 billion whose primary exporter is from Washington State have been stalled.
Senator Cantwell has long fought for a full functioning and permanently reauthorized Export-Import Bank to ensure American companies can compete on a level playing field with global competitors. She pressed for board members to be nominated and confirmed to the banks board last year. In December of 2015, the Ex-Im Bank received a 4-year reauthorization thanks in part to Cantwell’s advocacy. Later that year, a coalition of Democrats secured an agreement from Majority Leader McConnell to hold a vote to reauthorize Ex-Im, which resulted in an overwhelming majority of support.
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