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manufacturing blog

TAM and TAB: “Trump's pick for bank leader is bad for Texas"

One of the cornerstones of Donald Trump's campaign for president was a promise to boost American manufacturing and work with U.S. businesses on "Made in America" jobs. When he was elected, President Trump cemented that commitment by meeting with top manufacturing CEOs to develop a pro jobs-agenda and visiting workers at iconic American manufacturers.

In April, the president took another step in support of U.S. manufacturers by announcing his support for the U.S. Export-Import Bank...But what has been surprising is his decision to nominate former New Jersey Congressman Scott Garrett as president of the bank...former Congressman Garrett strongly opposes the Ex-Im Bank. He has voted more than a dozen times to shut it down and argued that the bank's support for American manufacturers and small businesses is not necessary.

In reality, Ex-Im is a small agency with just 400 staff members that actually runs a surplus - returning the fees and interest it charges for its services to the public Treasury, nearly $4 billion since 2009.

Congress has made its views clear with repeated, bipartisan votes in support of the U.S. Ex-Im Bank - one of the few areas it seems Republicans and Democrats can agree on these days. Certainly, Trump should have the freedom to nominate a skeptic who plans to further reform or strictly manage the bank. Even if we disagreed with such a nominee on some of the particulars - the bank, after all is one of the most efficient, well-managed agencies in the federal government today - we would support him or her in keeping with the president's traditional prerogatives on personnel.

But we cannot support a nominee who is flatly opposed to the existence of the bank - one who would destroy the Texas jobs the bank helps create and unilaterally disarm American businesses on the global stage out of misguided ideology. Nor can we understand why someone who has a track record of voting against the bank's re-authorization and who has said that "Congress should put the Export-Import Bank out of businesses" would want to lead this agency. Read more.

manufacturing policy advocate event

REGISTER TODAY! TAM’s 2017 Board & General Membership Meeting

Please join us for TAM’s 2017 Board & General Membership Meeting in Austin, Texas on November 1, 2017.

Register today!

When registering, please list name and company of each person attending this event so that we can prepare name badges for guests.

Wednesday, November 1, 2017

  • Fleming's Steakhouse
  • 320 E. 2nd Street
  • Austin, TX 78701
  • 4:00 p.m. – Executive Committee Meeting (Closed Meeting)
  • 5:00 p.m. – Cocktails
  • 5:30 p.m. – General Membership/Board Meeting
  • 6:30 p.m. – Dinner

HOTEL

If you need a hotel room, please contact Stephanie Simpson at stephanie.simpson@manufacturetexas.org.

Please note this meeting is open to TAM member companies and invited guests only.

pharmaceutical manufacturers association

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