Morning Consult - Business Groups Want Senate to Vote on Ex-Im Nominee

Press Release

The U.S. Chamber of Commerce and National Association of Manufacturers called on the Senate to vote on Export-Import Bank board nominee J. Mark McWatters, a move that would bring the agency closer to restoring the quorum needed to approve major financing deals.

"The Senate needs to vote on the nominee for the Ex-Im Board of Directors to get this important institution up and running again," NAM chief Jay Timmons and U.S. Chamber of Commerce head Tom Donohue said in a joint statement Thursday, adding that leaving the bank toothless would put American jobs at risk.

The bank's charter was renewed last year after lapsing for several months amid opposition from a group of congressional Republicans led by House Financial Services Committee Chairman Jeb Hensarling (R-Texas). But the agency can't fully perform its functions -- such as approving financing for exports of more than $10 million -- until it has a quorum of three out of five board members. McWatters, whose confirmation vote was blocked by Senate Banking Committee Chairman Richard Shelby (R-Ala.) earlier this month, would be the third member.

"We must have every available tool to secure jobs at home and sell our products to customers overseas," Timmons and Donohue said in the statement.

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