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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
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The statement is available at http://www.heitkamp.senate.gov/public/index.cfm/press-releases?ID=14030263-756E-48E1-8C1A-788FF73AFA40
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