WASHINGTON—Forty-two senators, all Democrats, have sent a letter to Congress urging Senate Banking Committee Chairman Richard Shelby (R-AL) to schedule a vote on the confirmation of Export-Import Bank board nominee Mark McWatters, currently one of the two NCUA board members.
Stating that McWatters is a well-qualified nominee who deserves to have his nomination considered, the senators emphasized that the EX-IM’s board has approved and disbursed financing for 478 transactions that have directly supported exports from more than 2,000 different companies, including more than 800 small businesses.
“Should the committee fail to move forward with the nomination process, it will have a material, negative impact on jobs at small and large companies alike – as well as up and down the manufacturing supply chain – jeopardizing the livelihood of thousands of hard working men and women across the United States,” the senators wrote.
In May, four House Democrats urged the Senate to allow a vote to confirm Watters to the EX-IM board. McWatters, who has been on the NCUA Board since 2014, was nominated by President Barack Obama to serve on the EX-IM board in January.
Analysts have predicted the Senate will not move to confirm any nominations during the election year. McWatters has about three years left on his current term at NCUA.
Shelby has said he does not intend for the Senate Banking Committee to consider McWatters’ nomination in 2016.
“A lot of Republicans think the Export-Import Bank is an overextension of the government’s arm into the international free marketplace,” said Dennis Dollar, principal at Dollar Associates in Birmingham, Ala., in earlier comments to CUToday.info. “And there are a lot of Democrats in the Bernie Sanders wing of the party who think the bank is corporate welfare. It is controversial on both sides of the aisle for different reasons.
“So, if I had to predict, I would say Mr. McWatters will be at the NCUA for the remainder of this year and on into next year,” said Dollar. “Then whoever wins the presidential election will appoint the next board member to take the seat left empty by Ms. (Debbie) Matz.”