Washington, D.C.—U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) delivered the following remarks at a hearing to consider nominees for the U.S. Department of the Treasury and the U.S. Department of Commerce.
As prepared for delivery:
“Thank you to our nominees, Mr. Browne, Mr. Abbott and Mr. Stebbins for being here today. Congratulations on your nominations and thank you all for your willingness to serve.”
“As we approach the end of the 119th Congress, I thank my colleagues for their important work on the Committee on behalf of taxpayers over the last two years. To our departing colleagues, thank you for your service on the Committee and in Congress. To those returning to the Committee next year, I look forward to our continued bipartisan partnership.”
“I also extend my congratulations to Ranking Member Wyden as he prepares to reassume the chairmanship of the Committee in the 120th Congress. I appreciate his longstanding commitment to the Committee and our strong history of working together to advance bipartisan priorities. I look forward to building on that record of cooperation as we continue our work on behalf of the American people.”
“Today, the Finance Committee will consider three nominees who, if confirmed, will serve in important roles at the Department of the Treasury and Department of Commerce.”
“We will first hear from Francis Browne, who is nominated to serve as Under Secretary of the Treasury for Domestic Finance.”
“The Domestic Finance office develops policies and guidance for Treasury Department activities in areas involving financial institutions, federal debt finance, financial regulation and capital markets. Sensible guidance in these areas better ensures financial stability and growth, as well as the resilience of our economy.”
“Mr. Browne brings more than two decades of private sector experience in investment banking, portfolio management and financial markets to this role. His extensive background and expertise will serve him well in advancing policies that strengthen financial stability and promote economic growth.”
“Next, we will hear from Chris Abbott, who has been nominated to serve as Assistant Secretary of Enforcement and Compliance for the International Trade Administration at the Department of Commerce.”
“The Assistant Secretary for Enforcement and Compliance oversees the enforcement of U.S. trade laws—including antidumping and countervailing duty measures—to combat unfair trade practices and ensure American businesses and workers can compete on a level playing field.”
“Mr. Abbott previously served in several senior positions at the White House and most recently at the Department of Commerce. His experience overseeing trade enforcement and manufacturing policy will be critical for this important role.”
“Finally, we will hear from Bob Stebbins, who is nominated to serve as the General Counsel of the Treasury Department.”
“The General Counsel is the principal legal officer of the Treasury Department and provides important legal and policy advice to the Secretary and other senior Department officials. As the Treasury Department works to implement the Working Families Tax Cuts and other pro-growth tax policies, the General Counsel will be vital in ensuring that regulations and other guidance are developed in accordance with the law and reflect congressional intent.”
“Mr. Stebbins is undoubtedly qualified for the job, having previously served as General Counsel of the Securities and Exchange Commission and General Counsel and Acting Chief Strategic Officer of the U.S. International Development Finance Corporation, in addition to his extensive private sector experience as a partner at Willkie Farr & Gallagher. His distinguished career in both the public and private sectors will be an asset as he takes on this important role at the Treasury Department.”
“I thank all the nominees for their willingness to participate in the Committee’s nominations process, meet with Committee staff prior to today’s hearing and answer their questions. I also thank you for your willingness to answer questions from Committee members during today’s hearing.”