Womack to replace Graves on Financial Services subcommittee

Finance

Rep. Steve WomackStephen (Steve) Allen WomackOn The Money: Trump gambles with new stimulus strategy | Trump cannot block grand jury subpoena for his tax returns, court rules | Long-term jobless figures rise, underscoring economic pain Womack to replace Graves on Financial Services subcommittee Ex-CBO director calls for more than trillion in coronavirus stimulus spending MORE (R-Ark.) is set to take over as the top Republican on the House Appropriations Subcommittee on Financial Services and General Government, replacing outgoing ranking member Tom GravesJohn (Tom) Thomas GravesOn The Money: Trump gambles with new stimulus strategy | Trump cannot block grand jury subpoena for his tax returns, court rules | Long-term jobless figures rise, underscoring economic pain Womack to replace Graves on Financial Services subcommittee Is Congress reasserting itself? MORE (R-Ga.).

Graves stepped down from his congressional seat on Oct. 4.

Though fiscal 2021 began last week, Womack may have a chance to leave his mark in the lame-duck session.

Congress has failed to agree on any of the 12 spending bills to fund the government and passed a stopgap measure leaving 2020 funding in place until Dec. 11.

The results of the election are likely to affect whether any or all of the bills pass before the presidential inauguration and seating of the 117th Congress in January.

House Speaker Nancy PelosiNancy PelosiOn The Money: Trump says talks on COVID-19 aid are now ‘working out’ | Pelosi shoots down piecemeal approach | Democrats raise questions about Trump tax audits Trump retweets reporter saying 25th Amendment is not equivalent to a ‘coup’ Trump responds to Pelosi bringing up 25th Amendment: ‘Crazy Nancy is the one who should be under observation’ MORE (D-Calif.) has talked up the importance of passing appropriations bills before the next deadline and said those bills may be a vehicle for passing additional COVID-19 relief measures.

President TrumpDonald John TrumpBiden campaign raises over M on day of VP debate Trump chastises Whitmer for calling him ‘complicit’ in extremism associated with kidnapping scheme Trump says he hopes to hold rally Saturday despite recent COVID-19 diagnosis MORE called off negotiations on a separate package Tuesday.

Womack, who is also the ranking member of the House Budget Committee, said he would focus on fiscal responsibility with his new post.

“We must responsibly address the needs of our nation, foster strong economic growth, and ensure that hard-earned tax dollars aren’t wasted. Making tough choices to chart a responsible fiscal path forward is what I came to Congress to do,” he said.

The subcommittee on Financial Services covers the Treasury and IRS, as well as a slew of general agencies including the Executive Office of the President, Securities and Exchange Commission, Small Business Administration, Federal Trade Commission, and the U.S. Postal Service.

His Democratic counterpart on the committee is Charman Mike QuigleyMichael (Mike) Bruce QuigleyWomack to replace Graves on Financial Services subcommittee Preventing next pandemic requires new bill’s global solutions Democrats introduce legislation to revise FDA requirements for LGBT blood donors MORE (D-Ill.).

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