The House Republican Conference has confirmed the Steering Committee’s choice of Rep. Spencer Bachus (R-AL) as Chairman of the House Financial Services Committee. Rep. Bachus has been a member of the Financial Services Committee since 1993, and has served as Ranking Member since 2007.
"This is a tremendous honor and I’m grateful for the support from incoming House Speaker John Boehner, Majority Leader Eric Cantor, Majority Whip Kevin McCarthy and my Republican colleagues to lead the Committee in the next Congress," said Rep. Bachus. "As Chairman of the Committee, I will honor our pledge to America and act on the priorities the American people delivered us last November. We are going to protect taxpayers by ending ‘too big to fail’ and the Administration’s unlimited bailout of Fannie Mae and Freddie Mac. We are committed to going title by title through the 2,300 page Dodd-Frank Act to correct, replace, or repeal the job killing provisions that unnecessarily punish small businesses and community banks that did nothing to cause the financial crisis."
Bachus continued, "We will reinvigorate the Committee’s oversight role, holding the President and his economic team accountable for their policies and demanding greater efficiency and savings in government programs that fall within our jurisdiction. Now is the time to get government out of the way so businesses can create jobs and grow the economy, and our team is prepared to hit the ground running. We had a great Committee leadership team this Congress—Judy Biggert, Shelley Moore Capito, Scott Garrett, Jeb Hensarling, Gary Miller, Randy Neugebauer, and Ron Paul—and I look forward to working with them to implement our policy agenda in the next Congress.”