Congresswoman Gwen Moore (WI-04) Statement on U.S. Export-Import Bank Ability To Back Deals of More Than $10 Million
Washington,
May 9, 2019
Congresswoman Gwen Moore Statement on New U.S. Export-Import Bank Ability to Back Deals of More Than $10 Million Washington, D.C. – Congresswoman Gwen Moore (WI-4) is releasing the following statement regarding the Senate’s confirmation of three U.S. Export-Import Bank officials. “I applaud the Senate’s decision to finally act to fill vacant Board of Director positions at the U.S. Export-Import Bank. The vote restores a quorum to the board, enabling the Export-Import Bank to unlock idled projects and unleash new projects that will support tens of thousands of American jobs. Having worked hard to reauthorize this important job creator a few years ago, I have been troubled to see this agency crippled by these vacancies. When I questioned U.S. Trade Ambassador Robert Lighthizer earlier this year, he testified that reviving the bank was of vital importance to the U.S. economy. Now the Bank can resume normal and full operations and help drive our nation’s economic growth. Nearly 230,000 U.S. jobs have been held hostage by these vacancies, many in the manufacturing industry. I thank my colleagues in the Senate for making the right decision for American workers.” On May 8, the Senate confirmed Kimberly Reed as president of the bank. The Senate also confirmed former Congressman Spencer Bachus and Judith DelZoppo Pryor as members of the board of directors. Since 2015, the bank has been unable to authorize loans of more than $10 million due to the board vacancies, resulting in a nearly $40 billion backlog in transactions awaiting consideration.
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