President Trump’s nominee to chair the U.S. Export-Import Bank did not fare well in a confirmation hearing Wednesday before the Senate banking committee. While four other nominees to the bank’s board attracted few complaints, senators from both sides of the aisle assailed former New Jersey congressman Scott Garrett. The general theme of the criticism was that Garrett, who worked with other conservatives to block reauthorization of Ex-Im in 2015, is not committed to the bank’s mission. However, President Trump is committed, so maybe losing Garrett in a confirmation vote isn’t so bad. Ex-Im plays a central role in facilitating financing for U.S. exports, which creates the kinds of jobs the president says the nation needs more of. I have written a commentary for Forbes here.
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