The Senate Banking Committee rejected Scott Garrett's nomination to be chairman of the U.S. Export-Import Bank, an institution the former congressman earlier called “corporate welfare” and tried to shut down.
In the 10-13 vote Tuesday, Republican Sens. Mike Rounds of South Dakota and Tim Scott of South Carolina joined all of the committee's Democrats in opposition. Rounds said Garrett's past efforts to end the institution can't be overlooked at a time when it needs a solid commitment to improvements.
“He's a principled man who simply believes in the abolishment of the bank,” Rounds said.
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