Sen. Warner on Senate Banking Committee vote against Ex-Im nominee Scott Garrett

mark warnerU.S. Sen. Mark R. Warner (D-VA), a member of the Senate Banking Committee, comments following the committee’s bipartisan 10-13 vote against former Rep. Scott Garrett’s nomination to lead the U.S. Export-Import Bank, followed by broad bipartisan support for other Ex-Im Bank board nominees.

“For decades, the Export-Import Bank has served as a job-creating tool for U.S. manufacturers and exporters, helping finance over $138 billion in exports across the country – including support for more than 80 companies in Virginia – and supporting hundreds of thousands of middle class jobs.

“In order for U.S. manufacturers to compete in a global economy, we need a fully functional Ex-Im Bank. Without it, U.S. companies are at a major disadvantage against their foreign counterparts. But Rep. Garrett’s long record of attacking and undermining the Export-Import Bank mean that he is not fit to lead it. Today’s bipartisan vote against his nomination is a strong signal to the Trump Administration that it should withdraw this nomination and put forward a qualified nominee who understands the important role the Ex-Im Bank plays in leveling the playing field for U.S. companies overseas.  

“Establishing a quorum for the Bank’s board is long overdue, and I am encouraged that the rest of the board nominees were able to be approved by the Banking Committee on a bipartisan basis. I hope that they will soon be confirmed by the whole Senate so that the Ex-Im Bank can fulfill its important responsibilities to support American manufacturers in selling their products around the world.” 

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. 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.

Since 2013, the U.S. Export-Import Bank has helped finance more than $1 billion in exports from nearly 80 Virginia companies, more than half of them small businesses. Sen. Warner has been a longtime supporter of Ex-Im, introducing legislation to reauthorize its operations and increase its spending authority following a historic lapse in Congressional approval in July 2015. Since the Bank’s reauthorization, he has called for the confirmation of qualified nominees to lead a fully functional Ex-Im.

Books from AFP

2018-19 UVA Basketball Preview: Just $1.99 on Amazon!

UVA Basketball finished the 2017-18 season ranked at the top of the national polls. Augusta Free Press editor Chris Graham offers his insight and analysis on the 2018-19 'Hoos, breaking down the roster, the legacy of coach Tony Bennett, and how the loss to UMBC could fuel a run through March Madness next spring.

The Worst Wrestling Pay-Per-View Ever: Just $3.49 on Amazon!

Chris Graham offers a glimpse behind the curtain of the pro wrestling business in his new book, The Worst Wrestling Pay-Per-View Ever, the inside story of the 2011 Night of Legends, a live pay-per-view event featuring stars including WWE Hall of Famers Kevin Nash, "Hacksaw" Jim Duggan and The Rock 'n Roll Express that was met with almost universally negative reviews.

Mad About U: History of University Hall available on Amazon for just $5.99!

Mad About U: Four Decades of at University Hall is a comprehensive book covering the players, coaches and memories of University Hall at the University of Virginia. Join us as we look back at the memories from more than 40 years in U Hall.


News From Around the Web


Shop Google



Comment