NAM Urges Senate to Confirm Ex-Im Bank Nominees
The National Association of Manufacturers urged the Senate to confirm three nominees to the board of directors for the Export-Import Bank of the United States, saying it would restore a “hobbled” entity. NAM endorsed Kimberly Reed for president and chair…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
and Spencer Bachus III and Judith DelZoppo Pryor to serve on the board of directors, it said in a May 6 letter to the Senate. The nominees would give the bank enough directors for a quorum to approve transactions of more than $10 million. The association said the lack of required directors has left the bank unable to “to implement the reforms still outstanding from the 2015 Ex-Im Bank reauthorization.” That has hurt U.S. manufacturers, who have lost about “$119 billion in output as a result.” Calling the nominees “highly qualified,” the letter says their confirmations will help the bank “end America’s unilateral economic disarmament, support America’s manufacturing workers and help the United States compete more effectively with China, Russia and others.” The letter came three days after the Senate voted to end the debate on the nominees (see 1905030027).