Wednesday, January 23, 2013

Congressman Robert Hurt Named Vice Chairman Of Capital Markets Subcommittee

Hurt To Serve Second Term On House Financial Services Committee

WASHINGTON, D.C. – Congressman Robert Hurt (R-Virginia) today released the following statement after Chairman Hensarling announced that he was named Vice Chairman of the Capital Markets and Government Sponsored Enterprises Subcommittee, and will serve a second term on the Housing and Insurance Subcommittee:

"As we begin our work at the Financial Services Committee, I remain committed to protecting the American people from federal over-reach, restoring stability to our housing market, and fostering an environment that encourages investment, small business expansion, and job creation. I am honored to serve in this important role and to work with Chairman Hensarling, Chairman Garrett, Chairman Neugebauer, and my colleagues at the Committee to further these goals. Family farms, Main Street banks, and small businesses are the engine of our rural communities across Virginia's 5th District and the important work that lies ahead at the Committee is critical to ensuring that they have the private capital they need to prosper. In this next Congress, we will maintain our commitment to rigorous oversight of the Dodd-Frank law to ensure that our Main Street banks are not being hindered and renew our focus on enhancing transparency and accountability of Fannie Mae, Freddie Mac, and all Government Sponsored Enterprises to protect hard-earned tax dollars."

House Financial Services Committee Chairman, Jeb Hensarling, said: "Given the state of our struggling economy, the work of our subcommittees has perhaps never been more important to hard-working taxpayers.  As Vice Chairman of the Capital Markets Subcommittee, Robert knows we must knock down the red tape and bureaucracy that is a roadblock to a healthy economy." 

Congressman Robert Hurt served on the Financial Services Committee throughout his first term in Congress and was reappointed for the 113th Congress. The Financial Services Committee has jurisdiction over all aspects of the nation's financial and housing sectors, and the Committee will play an important role in moving our economy forward. 

Subcommittee Vice Chairman: The Vice Chairman is the second ranking Republican on the Subcommittee, who will chair the Subcommittee in the absence of the Chairman.

Subcommittee on Capital Markets and Government-Sponsored Enterprises: The subcommittee has jurisdiction over the Securities and Exchange Commission and government-sponsored enterprises Fannie Mae and Freddie Mac. The subcommittee also handles matters related to the Federal Housing Finance Agency, capital markets activities such as business capital formation and venture capital, and derivative instruments. 

Subcommittee on Housing and Insurance: The subcommittee will shape legislation on a broad range of issues including insurance, federal housing programs, real estate regulation, and other programs under the Department of Housing and Urban Development.