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U.S. Republican McHenry to seek senior party post on House finance panel

WASHINGTON (Reuters) – U.S. Representative Patrick McHenry mentioned on Thursday he was in search of the highest Republican place on the House finance panel, and obtained the backing of a fellow Republican who had been thought of the highest contender for the function.

Rep. Patrick McHenry (R-NC) speaks with reporters concerning the Republican led immigration reform effort on U.S. Capitol in Washington, U.S., June 21, 2018. REUTERS/Aaron P. Bernstein/File Photo

“I look forward to continuing my conversations with my House Republican colleagues as I make the case for why I’m the best candidate to lead our committee going forward,” McHenry mentioned in an announcement, two days after Democrats received management of the House of Representatives in congressional elections.

If he turns into the rating Republican on the House Financial Services Committee, McHenry, now the panel’s vice chairman, would work alongside – and infrequently in opposition to – Democratic Representative Maxine Waters, who is ready to chair the highly effective physique beginning in January.

Waters is a fierce critic of huge banks. She needs to impose harder guidelines on the sector and examine President Donald Trump.

Republican Representative Blaine Luetkemeyer, who had emerged because the front-runner to lead the panel if Republicans maintained their House majority, backed McHenry’s candidacy on Thursday, calling him “the right man for the job.”

Luetkemeyer, a banking business ally, advised Reuters final week that whereas he would love the highest job on the finance panel, he wouldn’t pursue it if McHenry, additionally the House Republicans’ deputy whip, sought the post.

“McHenry will serve the Financial Services Committee well, working to find common ground with the Democratic Chair and serving as loyal opposition when the need arises,” Luetkemeyer mentioned in an announcement.

The committee’s present chairman, Republican Jeb Hensarling, is retiring from Congress.

McHenry mentioned within the assertion saying his candidacy:

“I am fully prepared to fight back against any efforts by Democrats to use this committee to roll back our successes from the last two years or use the committee as the launch pad for endless, partisan investigations.”

The North Carolina lawmaker advised Reuters final week that if he sat atop the committee, he would focus on monetary innovation, housing finance reform and monetary inclusion.

Reporting by Katanga Johnson; Additional reporting by Pete Schroeder and Peter Cooney

Our Standards:The Thomson Reuters Trust Principles.

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