Posted On: 04/28/2016 3:28:08 PM
Post# of 22940
Here's the take-away:
The latest challenge has cropped up in the Senate, which must submit and approve nominees for the bank’s board. With three of its five board seats unfilled, the Ex-Im Bank lacks the quorum required to approve deals of more than $10 million.
Mr. Shelby has said he won’t advance any Ex-Im Bank board nominations because he is ideologically opposed to the bank, which he says is “corporate welfare.” Senate Majority Leader Mitch McConnell (R., Ky.) has said over the past year that despite his own opposition to the bank, he wouldn’t use the board nomination process to strangle the agency.
The latest challenge has cropped up in the Senate, which must submit and approve nominees for the bank’s board. With three of its five board seats unfilled, the Ex-Im Bank lacks the quorum required to approve deals of more than $10 million.
Mr. Shelby has said he won’t advance any Ex-Im Bank board nominations because he is ideologically opposed to the bank, which he says is “corporate welfare.” Senate Majority Leader Mitch McConnell (R., Ky.) has said over the past year that despite his own opposition to the bank, he wouldn’t use the board nomination process to strangle the agency.
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