Hoyer: Export-Import Bank Needs a Full-Time President and Board Quorum

WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) released the following statement today on the need for a full-time President of the U.S. Export-Import Bank and Board quorum following the designation of Jeffrey Gerrish as Acting President of the Bank:

“The Export-Import Bank fulfills a critical function in helping American businesses and workers compete on a level playing field when it comes to selling American-made products overseas.  Now is not the time to abandon efforts to install a full-time, Senate-confirmed President of the Bank.  Designating the Deputy U.S. Trade Representative as Acting President of the Bank means that the position will not have the full attention it deserves.  Additionally, naming an Acting President will do nothing to restore a quorum to the Bank’s Board; without a quorum the Bank has not been fully operational for more than three years, causing American businesses to miss out on many large overseas contracts that would boost American exports and jobs. 

“I was proud to lead an effort in 2015 to hold bipartisan votes in Congress to reauthorize the Bank, against objections by a minority in the House.  Congress worked its will and demonstrated strong support for the Bank and its work on behalf of American exporters and the creation of export-driven jobs here at home.  I urge the President to nominate a full-time President of the Bank who can be confirmed with bipartisan support.  I also call on him to ensure that the Bank’s Board has an operating majority so that it can function as intended.”