Washington, D.C. – Chairman Tim Scott (R-S.C.) of the U.S. Senate Committee on Banking, Housing, and Urban Affairs has unveiled the legislative and oversight priorities for the 119th Congress. As the first Black chair of a Senate standing committee, Chairman Scott aims to enhance financial inclusion and promote opportunities for Americans nationwide.
“My goal for this Congress is to make America work for Americans. We have tackled significant challenges over the past two years, from addressing federal housing policies to increasing access to capital. As we kick off the 119th Congress, I am committed to collaborating with the Trump administration and my committee colleagues to find common ground and drive solutions that enhance financial inclusion and foster opportunity across the nation,” stated Chairman Scott.
The priorities for the Banking Committee in the 119th Congress include:
1. Promoting Financial Inclusivity and Opportunity: Chairman Scott will advocate for pro-growth policies that support Americans from all backgrounds, focusing on financial literacy and reducing burdensome regulations.
2. Responsibly Advancing Affordable Housing: The committee will explore ways to revitalize the housing market and address excessive costs and delays in affordable housing supply.
3. Increasing Access to Capital: The committee will work on expanding access to capital for entrepreneurs and small businesses, ensuring market confidence and transparency in the process.
4. Developing a Framework for Digital Assets: Efforts will be made to create a regulatory framework for digital assets that promote consumer protection and compliance with relevant laws.
5. Protecting our Economic National Security: Initiatives will be launched to bolster U.S. national security through sanctions, export control policies, and resilience in critical supply chains.
6. Empowering Local Entities for Infrastructure Innovation: The committee will focus on streamlining infrastructure projects and rescinding burdensome policies that hinder innovation.
Chairman Scott will also prioritize oversight of federal agencies, ensuring transparency and adherence to the law, and will work towards overturning regulations that hamper economic growth using tools like the Congressional Review Act. Regular order will be maintained to provide comprehensive consideration of reauthorizations, including the National Flood Insurance Program, Export-Import Bank, and Defense Production Act.
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