Grassley Intends to Chair Senate Finance Committee

Senator Charles “Chuck” Grassley, R-Iowa, will pursue chairmanship of the Senate Finance Committee (SFC) in the 116th Congress. Additionally, Grassley was unanimously nominated by Senate Republicans to be Senate pro tempore, which would make him third in line to succeed to the presidency following the vice president and speaker of the House.

Senate Finance Committee

Grassley announced his intention to opt for chairmanship of the Senate’s tax writing committee during the 116th Congress in a November 16 press release. Congressional committees are expected to be organized in January of next year. Previously, Grassley served as chair of the SFC in 2001, and from 2003 to 2007. Additionally, he served as ranking member of the committee from 2007 to 2011.

Currently, Grassley serves as chairman of the Senate Judiciary Committee. Meanwhile, Sen. Lindsey Graham, R-S.C., is voicing his desire to chair the Judiciary Committee. At this time, Graham is expected on Capitol Hill to succeed Grassley in that role.

Under Senate rules, service as chairman and ranking member is limited to six years or three Congresses for each role, according to Grassley’s press release. Thus, Grassley is eligible to serve as SFC chair for the full 116th Congress. Procedurally, SFC Republicans will select the chair of the committee at the start of the next Congress. Next, the chair is confirmed by the Senate Republican Conference.

Current SFC Chairman Orrin G. Hatch, R-Utah, who is set to retire next year, has praised Grassley’s qualifications to lead the committee. “The Finance Committee will be in good hands with Senator Grassley at the helm,” Hatch said in a November 16 statement. “Chuck has a proven history of leadership at the committee and knows the ins and outs of its sprawling jurisdiction. I am confident Chairman Grassley will carry out a robust agenda that will build on tax reform’s recent success and continue to make progress in the health care, trade and oversight spaces.”

Additional Tax Relief

In a November 16 statement, Grassley said that he looks forward to working with Republicans and Democrats, alike, to “get the job done.” The job, according to Grassley, includes among other things, “working to provide Americans with additional tax relief and tax fairness so they can spend more of their hard-earned money on what’s important to them.” Additionally, “it means giving small businesses more of the tools they need to hire additional workers, invest in their companies and give their employees the benefits and wages they’ve earned,” he added.

By Jessica Jeane, Senior News Editor

Login to read more tax news on CCH® AnswerConnect or CCH® Intelliconnect®.

Not a subscriber? Sign up for a free trial or contact us for a representative.

AUTHOR

CCHTaxGroup

All stories by: CCHTaxGroup