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Congressman Tom McClintock

Representing the 4th District of California

Scott Garrett: The Credibility Ex-Im Needs

July 27, 2017

Mr. Speaker:

This administration was elected to drain the swamp, and one of its muckiest parts is the Export-Import Bank, that makes taxpayer-guaranteed loans to foreign companies that buy American products – often to use in competition with American companies that get no such advantage.

When politicians are picking winners and losers in the shadows, it shouldn’t surprise us that we find a particularly nasty breeding ground for corruption.  

We can debate the merits of the Ex-Im Bank, but one thing is undeniable – it is an agency that needs a taxpayer watchdog on its board – and not just another lap dog for crony capitalists seeking to fleece taxpayers.

Scott Garrett is a watchdog.  He has sounded the alarm on the Ex-Im’s more questionable loans and his leadership on its board would restore credibility to its decisions.  The bank’s supporters should welcome an independent voice that could restore its reputation – and the President should insist on it.