The Aerospace Industries Association (AIA) applauded the Senate Banking Committee’s Tuesday confirmation of four nominees to serve on the U.S. Export-Import (EXIM) Bank board of directors, a move that restores the trade bank’s lending power.
Noting that the aerospace and defense industries contributed $90 billion to the U.S. trade balance in 2016, AIA President David Melcher said the industries are poised to create high-skill, high-wage jobs if they can compete on a level playing field in markets around the world.
“America’s aerospace and defense industry, it’s workforce of 2.4 million men and women, and our nation deserve an EXIM Bank with leaders who are fully committed to the success of EXIM and to removing any barriers to its full functionality,” Melcher said. “(Tuesday’s) bipartisan votes represent an important milestone in that process to advance the strength and prosperity of the American economy.”
The committee approved the nomination of EXIM Vice President Kimberly Reed and board members Spencer Bachus, Claudia Slacik and Judith DelZoppo Pryor. However, the committee rejected President Donald Trump’s nomination of Scott Garrett to lead the EXIM Bank.
“AIA also commends members of the committee for their bipartisan rejection of Scott Garrett’s nomination, a recognition of AIA long-stated position’s that Mr. Garrett is not the leader that the EXIM Bank needs and that American manufacturers deserved,” Melcher said. “AIA is pleased to be recognized by Senate Banking Committee leadership during the hearing for its leadership and advocacy on behalf of the American workforce to only confirm leaders worthy of the Bank’s important mission.”
Garrett was a leader of the 2015 effort to close the EXIM Bank, calling it “corporate welfare” for manufacturers. Although Garrett vowed to keep the bank “fully open” during confirmation hearings, senators rejected his nomination.