Rep. Watson Coleman Statement on Senate Banking Committee Rejection of Scott Garrett to Lead ExIm Bank

WASHINGTON, D.C. – Today, Congresswoman Bonnie Watson Coleman (D-NJ) released the below statement following the Senate Committee on Banking, Housing & Urban Affairs rejecting the nomination of Scott Garrett to lead the Export Import Bank in a 10 to 13 vote:

“In rejecting the nomination of Scott Garrett to lead the Export-Import Bank of the United States, Senators – both Democrats & Republicans, alike – affirm how damaging his leadership would be to this vital agency.  Throughout his tenure in Congress, Mr. Garrett led the charge to oppose ExIm, so, it defies logic that he would ever be considered to lead the Bank with the opportunity to sabotage it from within.

The Export-Import Bank supports American exporters, small businesses, and jobs at absolutely no cost to taxpayers.  Since 2012, the bank has facilitated $3 billion in New Jersey exports from 164 companies; 130 of these companies were small businesses. With the confirmation of the four other individuals, the Bank will be able to resume business fueling our economy and putting Americans to work.”

In April, Watson Coleman led all Democratic members of the New Jersey Congressional delegation in a letter to Senate leadership urging both parties to oppose the nomination following the President’s announcement. The U.S. Chamber of Commerce and the National Association of Manufacturers opposed Garrett’s confirmation. Congress reauthorized the bank in December 2015 for four years.