House Financial Services Committee Chairman Jeb Hensarling announced subcommittee assignments for the committee’s Republican members on Tuesday.
“Given the state of our struggling economy, the work of our committee and subcommittees has perhaps never been more important to hard-working taxpayers,” Hensarling said. “The fact is that during the past few years, we’ve seen a mind-numbing, innovation-chocking, job-killing flood of federal red tape. We’ve watched the mother of all bailouts—the one for Fannie Mae and Freddie Mac—take nearly $200 billion out of taxpayers’ pockets. And we’ve observed how Congress enshrined a ‘too big to fail’ bailout scheme into law. Each of our subcommittees has jurisdiction over these and many other challenges that confront our economy. I look forward to working with all our talented committee members as we offer common sense solutions that will help consumers and everyday Americans.”
Both Hensarling and former HFSC chairman Spencer Bachus will serve as ex-officio members of all subcommittees, though Bachus will serve as a voting member on two subcommittees, including the Capital Markets and Government Sponsored Enterprises and Financial Institutions and Consumer Credit subcommittees.
Rep. Scott Garrett (R-N.J.) will serve as chairman of the subcommittee on capital markets, and Robert Hurt (R-Va.) will serve as vice chairman. Rep. Shelley Moore Capito (R-W. Va.) will chair the subcommittee on financial institutions, while Rep. Jim Renacci (R-Ohio) will serve as vice chairman.
The Subcommittee on Insurance and Housing will be chaired by Rep. Randy Neugebauer (R-Texas), with Rep. Blaine Luetkemeyer (R-Mo.) serving as vice chair. The Subcommittee on Domestic and International Monetary Policy will be chaired by Rep. John Campbell (R-Calif.), while Rep. Bill Huizenga (R-Mich.) will serve as vice chairman. Rep. Patrick McHenry (R-N.C.) will chair the Subcommittee on Oversight and Investigations.