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