Senate panel snubs Trump's pick to run EXIM, OKs other nomineesWASHINGTON (Reuters) - The U.S. Senate Banking Committee rejected U.S. President Donald Trump’s nominee to head the U.S. Export-Import Bank on Tuesday  but approved four other board nominees, enough to restore the trade bank’s full lending powers upon their confirmation by the full Senate. The committee voted 13-10 against Scott Garrett as EXIM president in a rebuke to conservatives who saw the former New Jersey Republican congressman as an ally who would keep tight controls on the government export lender.  Garrett helped lead a 2015 effort to shut down EXIM to end a source of “corporate welfare” for giant manufacturers such as Boeing Co and General Electric. After his nomination he pledged to keep the bank “fully open” but struggled to persuade senators that he now believed in the bank’s core mission of providing taxpayer-backed loans and guarantees for U.S. export transactions. “I believe he’s a principled man who simply believes in the abolishment of the bank,” said Senator Mike Rounds of South Dakota, who voted against Garrett along with South Carolina Republican Tim Scott and all Democrats on the panel. The White House’s director of legislative affairs, Marc Short, commented, “We are disappointed that the Senate Banking Committee missed this opportunity to get the Export Import Bank fully functioning again. We will continue to work with the committee on a path forward.”  The committee, however, approved Trump’s nominations for EXIM’s first vice president, Kimberly Reed, and three other board members: former Louisiana congressman Spencer Bachus, Claudia Slacik and Judith DelZoppo Pryor. It also approved Mark Greenblatt as the agency’s inspector general. Confirmation of at least three board members will allow EXIM to resume approval of loans and guarantees above $10 million, returning the United States to export financing for major projects such as commercial aircraft, power turbines and  petrochemical plants for the first time since June 2015.  GE in a statement urged quick confirmation of the remaining EXIM nominees and hailed the committee vote as “a milestone for manufacturers across the U.S. whose customers require a fully-functioning EXIM Bank.” EXIM has a $42 billion backlog of deals in its pipeline awaiting approval, representing about 250,000 U.S. jobs based on Bureau of Labor Statistics multiplier data, said Scott Schloegel, an Obama administration appointee who still serves as the bank’s top officer.     Schloegel said with EXIM’s extended absence from large-scale export finance, many U.S. exporters have been unable to compete with China for some major projects in the power and technology sectors. politicsNews
senate panel stubs trump pick run exit oks nomineeswashington reuters the senate banking committee rejected president donald trump nominee head bank tuesday approved four board nominees enough restore trade bank full lending powers upon confirmation full senate the committee voted scott garrett exit president rebuke conservatives saw former new jersey republican congressman ally would keep tight controls government export lender garrett helped lead effort shut exit end source corporate welfare giant manufacturers boeing co general electric after nomination pledged keep bank fully open struggled persuade senators believed bank core mission providing loans guarantees export transactions i believe principle man simply believes abolishment bank said senator mike rounds south dakota voted garrett along south carolina republican tim scott democrats panel the white house director legislative affairs marc short commented we disappointed senate banking committee missed opportunity get export import bank fully functioning we continue work committee path the committee however approved trump nominations exit first vice president kimberly reed three board members former louisiana congressman spencer backs claudia slack judith delzoppo prior it also approved mark greenblatt agency inspector general confirmation least three board members allow exit resume approval loans guarantees million returning united states export financing major projects commercial aircraft power turbines petrochemical plants first time since june ge statement urged quick confirmation remaining exit nominees hailed committee vote milestone manufacturers across whose customers require exit exit billion backlog deals pipeline awaiting approval representing jobs based bureau labor statistics multiplier data said scott schloegel obama administration appointee still serves bank top officer schloegel said exit extended absence export finance many exporters unable compete china major projects power technology sectors politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Senate panel snubs Trump's pick to run EXIM, OKs other nomineesWASHINGTON (Reuters) - The U.S. Senate Banking Committee rejected U.S. President Donald Trump’s nominee to head the U.S. Export-Import Bank on Tuesday  but approved four other board nominees, enough to restore the trade bank’s full lending powers upon their confirmation by the full Senate. The committee voted 13-10 against Scott Garrett as EXIM president in a rebuke to conservatives who saw the former New Jersey Republican congressman as an ally who would keep tight controls on the government export lender.  Garrett helped lead a 2015 effort to shut down EXIM to end a source of “corporate welfare” for giant manufacturers such as Boeing Co and General Electric. After his nomination he pledged to keep the bank “fully open” but struggled to persuade senators that he now believed in the bank’s core mission of providing taxpayer-backed loans and guarantees for U.S. export transactions. “I believe he’s a principled man who simply believes in the abolishment of the bank,” said Senator Mike Rounds of South Dakota, who voted against Garrett along with South Carolina Republican Tim Scott and all Democrats on the panel. The White House’s director of legislative affairs, Marc Short, commented, “We are disappointed that the Senate Banking Committee missed this opportunity to get the Export Import Bank fully functioning again. We will continue to work with the committee on a path forward.”  The committee, however, approved Trump’s nominations for EXIM’s first vice president, Kimberly Reed, and three other board members: former Louisiana congressman Spencer Bachus, Claudia Slacik and Judith DelZoppo Pryor. It also approved Mark Greenblatt as the agency’s inspector general. Confirmation of at least three board members will allow EXIM to resume approval of loans and guarantees above $10 million, returning the United States to export financing for major projects such as commercial aircraft, power turbines and  petrochemical plants for the first time since June 2015.  GE in a statement urged quick confirmation of the remaining EXIM nominees and hailed the committee vote as “a milestone for manufacturers across the U.S. whose customers require a fully-functioning EXIM Bank.” EXIM has a $42 billion backlog of deals in its pipeline awaiting approval, representing about 250,000 U.S. jobs based on Bureau of Labor Statistics multiplier data, said Scott Schloegel, an Obama administration appointee who still serves as the bank’s top officer.     Schloegel said with EXIM’s extended absence from large-scale export finance, many U.S. exporters have been unable to compete with China for some major projects in the power and technology sectors. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: senate panel stubs trump pick run exit oks nomineeswashington reuters the senate banking committee rejected president donald trump nominee head bank tuesday approved four board nominees enough restore trade bank full lending powers upon confirmation full senate the committee voted scott garrett exit president rebuke conservatives saw former new jersey republican congressman ally would keep tight controls government export lender garrett helped lead effort shut exit end source corporate welfare giant manufacturers boeing co general electric after nomination pledged keep bank fully open struggled persuade senators believed bank core mission providing loans guarantees export transactions i believe principle man simply believes abolishment bank said senator mike rounds south dakota voted garrett along south carolina republican tim scott democrats panel the white house director legislative affairs marc short commented we disappointed senate banking committee missed opportunity get export import bank fully functioning we continue work committee path the committee however approved trump nominations exit first vice president kimberly reed three board members former louisiana congressman spencer backs claudia slack judith delzoppo prior it also approved mark greenblatt agency inspector general confirmation least three board members allow exit resume approval loans guarantees million returning united states export financing major projects commercial aircraft power turbines petrochemical plants first time since june ge statement urged quick confirmation remaining exit nominees hailed committee vote milestone manufacturers across whose customers require exit exit billion backlog deals pipeline awaiting approval representing jobs based bureau labor statistics multiplier data said scott schloegel obama administration appointee still serves bank top officer schloegel said exit extended absence export finance many exporters unable compete china major projects power technology sectors politicsnews