Letter to the Hon. Donald J. Trump, President - Withdraw the Nomination of Scott Garrett to be President of the Export-Import Bank

Letter

Dear Mr. President:

As Members who helped lead the effort to reauthorize the Export-Import Bank of the United States in the 114th Congress, we write again to urge you to withdraw the nomination of Scott Garrett to be President of the Bank so that the Board's quorum can be reconstituted as quickly as possible.

As you well know, the Ex-Im Bank plays a vital role in supporting tens of thousands of well-paying jobs in this country in the face of competition aggressively supported by more than 60 foreign export credit agencies, all while generating a profit for the U.S. Treasury. Unfortunately, for the past two years the Bank has been unable to approve transactions worth more than $10 million -- precisely the type of deals where the need to offset foreign export credit agency financing is most pronounced -- because its Board lacks a quorum. In fact, for some infrastructure and other large deals, U.S. firms cannot even bid without the backing of Ex-Im Bank financing. As a result, the continuing lack of a quorum is causing U.S. companies to move production to offshore locations where they can benefit from the services of foreign export credit agencies, precisely the opposite of your stated goal of increasing U.S. manufacturing operations and jobs in this country.

For this reason, it is critical to put forward a slate of nominees for the Ex-Im Bank Board who can be confirmed quickly. Mr. Garrett has failed that test. He is controversial, unqualified, and, ultimately, un-confirmable. There is no evidence to suggest that more time will change this situation; in fact, it is our understanding that Mr. Garrett's meetings with key Senators have made them less likely to support his nomination.

It has now been more than five months since you announced Mr. Garrett's pick, yet he has failed to secure even a hearing in the Senate Banking Committee. Unfortunately, the controversy over his nomination is preventing quick action on your remaining Ex-Im Bank Board nominees -- precisely the goal of those both inside and outside your Administration who are trying to frustrate your decision to support the Bank and its operations.

You have indicated repeatedly that two of your major policy goals are to boost U.S. manufacturing and reduce the U.S. trade deficit. Restoring the Bank to full functionality can play a significant role in advancing both goals. As a result, we urge you to immediately withdraw the nomination of Mr. Garrett so that your other four nominees can be confirmed as quickly as possible and restore a quorum to the Bank's Board.

Sincerely,

STENY H. HOYER
Democratic Whip

GWEN MOORE
Ranking Member, Subcommittee on Monetary Policy and Trade

DENNY HECK
Member of Congress