U.S. Senator Tim Johnson of South Dakota and Congressman Jeb Hensarling of Texas will chair the key Congressional panels with jurisdiction over the financial services industry during the 113th Session of the United States Congress.
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The Senate Banking, Housing and Urban Affairs Committee and the House Financial Services Committee have jurisdiction over the nation’s banking industry, housing industry, Wall Street, consumer finance, international issues relating to monetary policy, and a wide variety of related issues.
“I am humbled by the support and trust of my colleagues, and I look forward to serving as Chairman of the House Financial Services Committee next Congress.” said Hensarling. “I am grateful for the opportunity to lead this committee, and I look forward to working alongside my colleagues to foster the deepest, most liquid, competitive, efficient, innovative, and transparent capital markets the world has ever known.”
Under Tim Johnson’s leadership, the Senate Banking Committee’s work over the past two years yielded overwhelming approval of four major pieces of legislation in the Senate with at least 75% of Republican and Democratic Senators voting in favor of each bill. These bipartisan measures – the National Flood Insurance Program (NFIP), the Export-Import Bank of the United States, the transit title of the Surface Transportation bill, and the Iran Sanctions, Accountability and Human Rights Act - have all been signed into law. Additionally, the Committee favorably reported out and cleared 34 of the President’s nominees, with the full Senate confirming 30 of those nominees. Chairman Johnson and the Senate Banking Committee were also instrumental in passing the JOBS Act on the floor of the Senate and getting it signed into law. Chairman Johnson has indicated he will continue working with colleagues from both parties on critical legislation over the next two years as Chairman.
Tim Johnson and Jeb Hensarling are expecting a very busy 113th Congress and D.C. Strategies is uniquely positioned to work with both Chairmen in a bipartisan manner.