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Tim Scott Leads Senate Banking Committee Business Meeting To Advance Key Trump Admin. Nominees
Forbes Breaking News
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5/7/2025
The Senate Banking Committee holds a business meeting for Trump Administration nominees.
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News
Transcript
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00:30
We'll call this to order.
00:51
Thank you all for being here.
00:54
Reagan member Warren for her opening statement.
00:56
All right.
00:57
President Trump is pushing our economy off a cliff.
01:02
Over the past week, the president has told families to brace for more expensive toys
01:07
for Christmas, and he continues to lie about the fact that grocery prices are going up.
01:12
He's managed to shrink the economy in the first 100 days, and experts across the board
01:17
are predicting a recession.
01:19
Meanwhile, President Trump is getting rich off a $2 billion stablecoin deal with the
01:26
United Arab Emirates involving a crypto exchange that pleaded guilty to criminal charges after
01:33
allowing money to flow to terrorists and child abusers.
01:37
The Trump administration is in desperate need of serious officials who will serve the American
01:44
people and not serve the president's worst impulses.
01:48
That is why I am so concerned about the nominees we're voting on today.
01:52
Ms. Bowman wants to lead a key part of the Federal Reserve but refused to acknowledge what families
01:58
and economists know to be true.
02:00
Trump's tariffs are breaking our economy.
02:02
She also signaled that more Wall Street deregulation is on the way, putting small businesses and
02:09
households at even greater risk.
02:12
Mr. Hughes and Mr. Wall want to be confirmed to positions at HUD, but they seem unwilling
02:17
to stand up against cuts that will undermine fair housing and make it harder to tackle
02:24
skyrocketing housing costs.
02:26
They both refused to answer whether they had signed a loyalty pledge to the president.
02:31
Mr. Hurley would be responsible for implementing our economic sanctions, but he could not even
02:37
bring himself to say that Russia started the war against Ukraine, and he would not commit
02:42
to fully implementing the Corporate Transparency Act to prevent cartels, Iran, and China from
02:50
laundering funds through shell companies in the United States.
02:54
The nominees for key positions at the Commerce Department raised similar concerns.
02:59
Mr. Hyde would help oversee export controls, but he refused to rule out lifting them on
03:06
Russia's war machine.
03:08
Mr. Fogel would be tasked with promoting U.S. business around the world, but refused to
03:13
acknowledge the tremendous damage President Trump's chaotic trade policies are already causing
03:19
to American families and businesses.
03:21
I won't vote to confirm these administration officials when President Trump is strangling
03:27
our economy to raise prices for families while he lines his own pockets.
03:33
Thank you, Mr. Chairman.
03:34
Thank you, Ranking Member.
03:36
I will reserve the right to offer an opening statement at the end so that we can all get
03:41
done, hopefully, by 10 o'clock.
03:43
Our first vote is on the nomination of Andrew Hughes to be the Deputy Secretary of the Department
03:51
of HUD.
03:52
The Clerk will call the roll.
03:55
Mr. Chairman?
03:56
Aye.
03:57
Mr. Crapo?
03:58
Aye.
03:59
Mr. Rounds?
04:00
Aye.
04:01
Mr. Tillis?
04:02
Aye.
04:03
Mr. Kennedy?
04:04
Aye.
04:05
Mr. Haggerty?
04:06
Aye.
04:07
Mr. Haggerty?
04:08
Aye.
04:09
Miss Lummis?
04:10
Aye.
04:11
Mrs. Britt?
04:12
Aye.
04:13
Mr. Ricketts?
04:14
Aye.
04:15
Mr. Banks?
04:16
Aye.
04:17
Mr. Kramer?
04:18
Aye.
04:19
Mr. Moreno?
04:20
Aye.
04:21
Mr. McCormick?
04:22
Aye.
04:23
Mr. McCormick?
04:24
Aye.
04:25
Ms. Warren?
04:26
No.
04:27
Mr. Reed?
04:28
No.
04:29
Mr. Reade?
04:30
No.
04:31
Mr. Warner?
04:32
No.
04:33
Mr. Van Hollen?
04:34
No.
04:35
Mr. Van Hollen?
04:36
No.
04:37
No.
04:38
Miss Cortez Masto?
04:40
No.
04:41
Miss Smith?
04:42
No, by proxy.
04:43
Mr. Warnock?
04:44
No, by proxy.
04:45
Mr. Kim?
04:47
No, by proxy.
04:48
Mr. Gallego?
04:50
No, by proxy.
04:51
Ms. Blunt Rochester?
04:52
No, by proxy.
04:53
Ms. Also Brooks?
04:55
No, by proxy.
04:56
Mr. Chairman, the vote is 13 in favor and 11 opposed.
05:02
The ayes have it.
05:03
The nominations hereby ordered reported favorably to the full Senate.
05:06
Next we'll vote on Mr. David Wall to be general counsel of the Department of Housing and Urban Development.
05:12
The clerk will call the roll.
05:15
Mr. Chairman?
05:16
Aye.
05:17
Mr. Crapo?
05:18
Aye.
05:19
Mr. Rounds?
05:20
Aye.
05:21
Mr. Tillis?
05:22
Aye.
05:23
Mr. Kennedy?
05:25
Aye.
05:26
Mr. Haggerty?
05:27
Aye.
05:28
Ms. Lummis?
05:29
Aye.
05:30
Mr. Britt?
05:31
Aye.
05:32
Mr. Ricketts?
05:33
Aye.
05:34
Mr. Banks?
05:35
Aye.
05:36
Mr. Kramer?
05:37
Aye.
05:38
Mr. Moreno?
05:39
Aye.
05:40
Mr. McCormick?
05:41
Aye.
05:42
Mr. McCormick?
05:43
Aye.
05:44
Ms. Warren?
05:45
No.
05:46
Mr. Reed?
05:47
No, by proxy.
05:48
Mr. Warner?
05:49
No, by proxy.
05:50
Mr. Van Hollen?
05:51
No, by proxy.
05:52
Mr. Van Hollen?
05:53
No, by proxy.
05:54
Ms. Cortez Masto?
05:55
No, by proxy.
05:56
Ms. Smith?
05:57
No, by proxy.
05:58
Mr. Warnock?
05:59
No, by proxy.
06:00
Mr. Kim?
06:01
No, by proxy.
06:02
Mr. Gallego?
06:03
No, by proxy.
06:04
Mr. Gallego?
06:05
No, by proxy.
06:06
Ms. Blunt-Rochester?
06:08
No, by proxy.
06:09
Ms. Also Brooks?
06:10
No, by proxy.
06:11
Mr. Chairman, the vote is 13 in favor and 11 opposed.
06:15
The ayes have it.
06:16
The nomination is hereby ordered reported favorably to the full Senate.
06:19
We'll now consider the Honorable Michelle Bowman to be the vice chair for supervision at the
06:24
Board of Governors at the Federal Reserve System.
06:27
The clerk will call the roll.
06:29
Mr. Chairman?
06:30
Aye.
06:31
Mr. Crapo?
06:32
Aye.
06:33
Mr. Rounds?
06:34
Aye.
06:35
Mr. Tillis?
06:36
Aye.
06:37
Mr. Kennedy?
06:38
Aye.
06:39
Mr. Haggerty?
06:40
Aye.
06:41
Ms. Lummis?
06:42
Aye.
06:43
Mrs. Britt?
06:44
Aye.
06:45
Mr. Ricketts?
06:46
Aye.
06:47
Mr. Banks?
06:48
Aye.
06:49
Mr. Banks?
06:50
Aye.
06:51
Mr. Kramer?
06:52
Aye.
06:53
Mr. Moreno?
06:54
Aye.
06:55
Mr. McCormick?
06:56
Aye.
06:57
Miss Warren?
06:58
No, by, no.
07:01
Mr. Reed?
07:03
No, by proxy.
07:06
Mr. Warner?
07:07
No, by proxy.
07:08
Mr. Van Halen?
07:09
No, by proxy.
07:10
Miss Cortez Masto?
07:11
No, by proxy.
07:12
Miss Smith.
07:13
No, by proxy.
07:14
Mr. Warnock?
07:15
No, by proxy.
07:16
Ms. Smith, Mr. Warnock, Mr. Kim, Mr. Gallego, Ms. Blunt-Rochester, Ms. Alsa-Brooks, Mr.
07:32
Chairman, the vote is 13 in favor and 11 opposed.
07:34
The ayes have it.
07:35
The nominations hereby ordered reported favorably to the full Senate.
07:38
Next is Mr. John Hurley to be the Undersecretary for Terrorism and Financial Crimes at the
07:43
United States Department of Treasury.
07:45
The clerk will call the roll.
07:47
Mr. Chairman?
07:47
Aye.
07:49
Mr. Crapo?
07:49
Aye.
07:50
Mr. Rounds?
07:51
Aye.
07:52
Mr. Tillis?
07:53
Aye.
07:54
Mr. Kennedy?
07:55
Aye.
07:57
Mr. Haggerty?
07:57
Haggerty's aye.
08:00
Ms. Lummis?
08:02
Aye.
08:03
Mrs. Britt?
08:04
Aye.
08:05
Mr. Ricketts?
08:06
Aye.
08:08
Mr. Banks?
08:09
Aye.
08:10
Mr. Kramer?
08:11
Aye.
08:12
Mr. Moreno?
08:13
Aye.
08:14
Mr. McCormick?
08:15
Aye.
08:17
Ms. Warren?
08:18
No.
08:19
Mr. Reed?
08:20
No by proxy.
08:22
Mr. Warner?
08:23
No by proxy.
08:24
Mr. Van Hollen?
08:25
No by proxy.
08:27
Ms. Cortez Masto?
08:28
No by proxy.
08:29
Ms. Smith?
08:30
No by proxy.
08:31
Mr. Warnock?
08:32
No by proxy.
08:34
Mr. Kim?
08:34
No by proxy.
08:36
Mr. Gallego?
08:37
Yes by proxy.
08:38
Mr. Chairman, the vote is 14 in favor and 10 opposed.
08:50
Thank you, the ayes have it.
08:51
The nomination is hereby ordered reported favorably to the full Senate.
08:54
Next is Mr. David Fogel to be Assistant Secretary of Commerce and Director General of the US and Foreign Commercial Service.
09:02
The clerk will call the roll.
09:04
Mr. Chairman?
09:05
Aye.
09:06
Mr. Crapo?
09:07
Aye.
09:08
Mr. Rounds?
09:09
Aye.
09:10
Mr. Tillis?
09:11
Aye.
09:12
Mr. Kennedy?
09:13
Yes.
09:14
Mr. Hagerty?
09:15
Aye.
09:16
Ms. Lummis?
09:17
Aye.
09:18
Mrs. Britt?
09:19
Aye.
09:20
Mr. Ricketts?
09:21
Aye.
09:22
Mr. Banks?
09:23
Aye.
09:24
Mr. Kramer?
09:25
Aye.
09:26
Aye.
09:27
Mr. Kramer?
09:28
Aye.
09:29
Mr. Moreno?
09:30
Aye.
09:31
Mr. McCormick?
09:32
Aye.
09:33
Ms. Warren?
09:34
No.
09:35
Mr. Reed?
09:36
No by proxy.
09:37
Mr. Warner?
09:38
No by proxy.
09:39
Mr. Warner?
09:40
No by proxy.
09:41
Mr. Van Hollen?
09:42
No by proxy.
09:43
Ms. Cortez Masto?
09:44
No by proxy.
09:45
Ms. Smith?
09:46
No by proxy.
09:47
Mr. Warnock?
09:48
No by proxy.
09:49
Mr. Kim?
09:51
No by proxy.
09:52
Mr. Kim?
09:53
No by proxy.
09:54
Mr. Gallego?
09:55
No by proxy.
09:56
Ms. Blunt-Rochester?
09:57
No by proxy.
09:58
Ms. Also Brooks?
09:59
No by proxy.
10:00
Mr. Chairman, the vote is 13 in favor and 11 opposed.
10:06
The ayes have it.
10:07
The nomination is hereby ordered reported favorably to the full Senate.
10:10
Finally, we have Mr. Landon Hyde to be the Assistant Secretary of Commerce.
10:14
The clerk will call the roll.
10:16
Mr. Chairman?
10:17
Aye.
10:18
Mr. Crapo?
10:19
Aye.
10:20
Mr. Rounds?
10:21
Aye.
10:22
Mr. Tillis?
10:23
Aye.
10:24
Mr. Kennedy?
10:26
Aye.
10:27
Mr. Hagerty?
10:28
Aye.
10:29
Ms. Lummis?
10:30
Aye.
10:31
Mrs. Britt?
10:32
Aye.
10:33
Mr. Ricketts?
10:35
Aye.
10:36
Mr. Banks?
10:37
Aye.
10:38
Mr. Kramer?
10:39
Aye.
10:40
Mr. Moreno?
10:41
Aye.
10:42
Mr. McCormick?
10:43
Aye.
10:44
Ms. Warren?
10:45
No.
10:46
Mr. Reed?
10:47
No.
10:48
No.
10:49
Mr. Reed?
10:50
No by proxy.
10:51
Mr. Warner?
10:52
No by proxy.
10:53
Mr. Van Hollen?
10:54
No by proxy.
10:56
Ms. Cortez Mastow?
10:57
No by proxy.
10:58
Ms. Smith?
11:00
No by proxy.
11:01
Mr. Warnock?
11:02
No by proxy.
11:03
Mr. Kim?
11:04
No by proxy.
11:05
Mr. Gallego?
11:06
No by proxy.
11:07
Ms. Blunt Rochester?
11:09
No by proxy.
11:10
Ms. Also Brooks?
11:11
No by proxy.
11:12
Mr. Chairman, the vote is 13 in favor and 11 opposed.
11:14
Mr. Chairman, the vote is 13 in favor and 11 opposed.
11:18
The ayes have it.
11:19
The nominations hereby are ordered reported favorably to the full Senate.
11:21
Are there any members that would like to make a statement?
11:24
I would appreciate if you would all stick around for my 30-minute opening statement.
11:29
I will submit my statement for the record.
11:33
Executive session is now adjourned.
Recommended
8:22
|
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