Federal Spotlight: Oppose Export-Import Bank nominee

July 20, 2017

President Trump’s selection of former U.S. Rep. Scott Garrett of New Jersey to lead the Export-Import Bank is drawing criticism from manufacturers and influential business organizations. During his time in Congress, Garrett was an outspoken critic of the of bank.

One of ABI’s national partners, the National Association of Manufacturers (NAM), has been leading efforts to urge the U.S. Senate to reject Garrett. Many ABI and NAM members and their suppliers have used the Ex-Im Bank to get American products overseas. According to an NAM fact sheet,” For manufacturers, the Export-Import (Ex-Im) Bank is an essential tool for creating and supporting jobs here at home as we sell our products to other countries. Workers, families, communities, businesses and even taxpayers are all better off when the Ex-Im Bank is fully functional and has a strong leader who understands the mission of the agency and its importance for manufacturing in the United States.”

If you have utilized the Ex-Im Bank, contact Sen. Grassley and Sen. Ernst and ask them to reject Garrett’s nomination.

NAM President Jay Timmons wrote an op-ed in the Wall Street Journal urging the Senate to reject Garrett’s nomination. In the piece, Timmons highlighted Garrett’s past votes against the bank’s reauthorization and statements displaying opposition to the bank he seeks to head. In 2015, while in Congress, Garrett said the agency “embodies the corruption of the free enterprise system,” according to Politico.

The Ex-Im Bank guarantees loans for foreign buyers of U.S. exports. It is a tool American manufacturers can use to help level the playing field when competing with other countries. Pressure will continue to mount on the Trump administration to withdraw the nomination and put forward someone who actually supports the functions of the bank. Click here to read more from NAM.