Sen. Heitkamp Says Trump Committed to Ex-Im Bank Quorum

International Trade Daily™ provides rapid, reliable notification of the most significant developments affecting U.S. trade and international business policy, as well as the policies of major U.S....

By Rossella Brevetti

President Donald Trump is committed to restoring the Export-Import Bank quorum, Sen. Heidi Heitkamp (D-N.D.) said.

The lack of an Ex-Im Bank quorum is halting in excess of $30 billion worth of deals waiting in the pipeline from being approved, Heitkamp said in a statement. This amounts to $30 billion worth of U.S. exports, which supports almost 174,000 American jobs, she said.

“The president is committed to doing everything he can to make sure we have a quorum so that we can begin the process of doing credits. There’s billions of dollars in the pipeline, so I’m really excited,” Sen. Heidi Heitkamp said after a bipartisan lunch meeting with Trump and other senators.

Trump’s support of Ex-Im Bank could put him on a collision course with conservative House Republicans who have said that Ex-Im Bank amounts to “corporate welfare.”

Efforts to revive the Ex-Im bank faltered in the last Congress even though they had the support of the Obama administration. Sen. Richard Shelby (R-Ala.), who chaired the Banking Committee in the last Congress, blocked consideration of Obama’s nominee to the Ex-Im board. Several seats on Ex-Im’s board are now vacant.

With assistance from Justin Sink and Kathleen MillerTo contact the reporter on this story: Rossella Brevetti in Washington at RBrevetti@bna.com

To contact the editor responsible for this story: Jerome Ashton at jashton@bna.com

Copyright © 2017 The Bureau of National Affairs, Inc. All Rights Reserved.

Try International Trade Daily