Business meeting to consider the nominations of Andrew Hughes, of Texas, to be Deputy Secretary and David Woll, of Virginia, to be General Counsel, both of the Department of Housing and Urban Development, Michelle Bowman, of Kansas, to be Vice Chairman for Supervision of the Board of Governors of the Federal Reserve System for a term of four years, John Hurley, of California, to be Under Secretary for Terrorism and Financial Crimes, Department of the Treasury, and David Fogel, of Connecticut, to be Assistant Secretary and Director General of the United States and Foreign Commercial Service, and Landon Heid, of Missouri, to be an Assistant Secretary, both of the Department of Commerce.
Banking, Housing, and Urban Affairs Committee
2025-05-06
Source: Congress.gov
Participants
Transcript
We'll call this to order. Thank you all for being here. Ranking Member Warren for her opening statement. President Trump is pushing our economy off a cliff. Over the past week, the President has told families to brace for more expensive toys for Christmas, and he continues to lie about the fact that grocery prices are going up. He's managed to shrink the economy in the first 100 days, and experts across the board are predicting a recession. Meanwhile, President Trump is getting rich off a $2 billion stablecoin deal with the United Arab Emirates involving a crypto exchange that pleaded guilty to criminal charges after allowing money to flow to terrorists and child abusers. The Trump administration is in desperate need of serious officials who will serve the American people and not serve the president's worst impulses. That is why I am so concerned about the nominees we're voting on today. Ms. Bowman wants to lead a key part of the Federal Reserve, but refused to acknowledge what families and economists know to be true. Trump's tariffs are breaking our economy. She also signaled that more Wall Street deregulation is on the way, putting small businesses and households at even greater risk. Mr. Hughes and Mr. Wall want to be confirmed to positions at HUD, but they seem unwilling to stand up against cuts that will undermine fair housing and make it harder to tackle skyrocketing housing costs. They both refused to answer whether they had signed a loyalty pledge to the president. Mr. Hurley would be responsible for implementing our economic sanctions, but he could not even bring himself to say that Russia started the war against Ukraine, and he would not commit to fully implementing the Corporate Transparency Act to prevent cartels, Iran, and China from laundering funds through shell companies in the United States.
The nominees for key positions at the Commerce Department raised similar concerns. Mr. Hyde would help oversee export controls, but he refused to rule out lifting them on Russia's war machine. Mr. Fogel would be tasked with promoting US business around the world, but refused to acknowledge the tremendous damage President Trump's chaotic trade policies are already causing to American families and businesses. I won't vote to confirm these administration officials when President Trump is strangling our economy to raise prices for families while he lines his own pockets. Thank you, Mr. Chairman. Thank you, Ranking Member. I will reserve the right to offer an opening statement at the end so that we can all get done hopefully by 10 o'clock. Our first vote is on the nomination of Andrew Hughes to be the Deputy Secretary of the Department of HUD.
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Unknown (SPEAKER_02)
The Clerk will call the roll. Mr. Chairman? Aye. Mr. Crapo? Aye. Mr. Rounds? Aye. Mr. Tillis? Aye. Mr. Kennedy? Aye. Mr. Haggerty? Aye. Ms. Lummis? Aye. Mrs. Britt? Aye. Mr. Ricketts? Aye. Mr. Banks? Aye. Mr. Kramer? Aye. Mr. Moreno?
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