Epoch Times:
WASHINGTON— The U.S. Senate acted to revive the U.S. export credit agency by confirming President Donald Trump’s nominees, marking the White House’s victory over a vast network of political groups backed by the Koch brothers.
The Senate voted May 8 to confirm three nominees to serve on the board of the U.S. Export-Import Bank (Ex-Im Bank), allowing the federal credit agency to have a quorum needed to authorize large loans. Lack of board quorum for nearly four years has prevented the bank from approving deals over $10 million.
The Trump administration has been pushing the Senate to revive the bank for both financial and national security reasons. At the Ex-Im Bank’s annual conference in March, Trump’s top aides Larry Kudlow and Peter Navarromade it clear that the bank is an important tool to level the playing field for American exporters.
Trump as a candidate opposed the credit agency during the 2016 presidential campaign. However, as president he changed his mind, declaring the bank “a very good thing.” And this appears to be triggered by his concerns about China trade issues, say experts.
The Senate confirmed Kimberly Reed as president of the credit agency with a 79-17 vote. It also voted for Spencer Bachus and Judith DelZoppo Pryor to serve on the board.
The export credit agency, for more than 85 years, assists in financing and facilitating U.S. exports of goods and services. It supports large multinational corporations such as Boeing, Caterpillar, and GE; it’s also an important source of credit for small businesses.
Koch Influence
The Koch brothers have been using behind-the-scenes influence to challenge the Trump administration on its decision to revive the bank. Since 2015, billionaires Charles and David Koch, who are among the Republican Party’s top donors, have been pushing Washington to eliminate the Ex-Im Bank. MORE HERE
For story input as important as this, why do they never state the names of the cited “experts”?
I laughed at this part of the article, the faux disappointment!
““Fools like me who believed that President Trump would ‘drain the swamp’ in Washington have been enduring one disappointment after another,” wrote Veronique de Rugy, a senior research fellow at the Mercatus Center, a Koch-funded think tank.
“For the latest, he has exerted political pressure so the swampiest agency in town, the Export-Import Bank, can be restored to its full potential,” she wrote in a recent New York Times op-ed.””
She considers herself a fool because Trump has not drained the swamp, yet the Koch brothers are running their own agenda to keep that swamp nice and filled. The same Koch brothers that are funding the think tank she works at???? Then she writes an op-ed for the swamp loving NY Slimes?????
Either she thinks we are all stupid or she is a clueless bint. I’ll go with the latter on that one.
Are we going to concentrate on the export or the new import side of the business?