Randy's Roundup: Looking Ahead

Looking Ahead 
I’m thrilled and thankful you’ve elected me to represent Texas’ 19th District for two more years.  I want to thank you all for allowing me to continue fighting for West Texas and the Big Country values in Washington.  The new Congress and Republican Senate will be sworn in on January, 6, 2015, but until then, we still have a lot of work ahead of us.  The government needs to be funded beyond December 11th, certain tax extenders need to be addressed, we must continue our work fighting against ISIL in the Middle East, and we need to push back against the President’s immigration executive order that went so far out of bounds.

When we begin the 114th Congress in January, we’ll have a bigger Republican majority in the House, and a Republican majority in the Senate.  That’s great news for fiscal responsibility, government accountability, and free market policies.  But I want to manage expectations.  As Republicans, we can and will pass legislation in Congress that addresses Obamacare and funds the government responsibly, while also making America stronger at home and abroad.  I am excited about the many opportunities before us.  But, here’s where expectations are important; we can pass legislation out of the House and Senate, but our President has the constitutional authority to veto legislation sent to him.  Overriding a presidential veto requires a 2/3rds majority in both the House and the Senate.  Our Republican majorities in the House and Senate are not this big.  So, getting legislation signed into law will require compromise between Congress and the President.

My New Role as Chairman of the Subcommittee on Financial Institutions and Consumer Credit 
I’m honored that fellow Texan Jeb Hensarling, who is Chairman of the House Financial Services Committee, has appointed me to a new leadership position on the Committee.  For the past two years, I’ve served as Chairman of the Subcommittee on Housing and Insurance.  I’ve worked on housing finance reform, putting the Federal Housing Administration on a fiscally sustainable path, and most recently, making our national terrorism risk insurance plan workable for the future.

Now, for the next two years, I’ll serve as Chairman of the Subcommittee on Financial Institutions and Consumer Credit.  It’s a long name, but here’s the short of what it does: this Subcommittee oversees all the federal banking regulators, like FDIC and the Federal Reserve.  My subcommittee will focus on issues relating to availability of consumer credit, taxpayer access to different financial products, and the soundness and success of our entire banking system, including the local community banks that many of us rely on in Texas.  What that really means: I’ll have the opportunity to lead a Subcommittee devoted to free-market enterprise, economic growth, and fairness across the board.  I’ll get to lead policy that directly affects Texas’ community banks and provides regulatory relief for farmers, ranchers, and small businesses in TX19.

I’m excited for this new position, and I can’t wait to hit the ground running to promote a healthy economy.