June 09,2021

Crapo Statement at Treasury Nominees Markup

Washington, D.C.--U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, delivered the following remarks at an executive session to vote on nominees to the U.S. Department of Treasury.  

The text of Ranking Member Crapo’s remarks, as prepared, is below.  

“We are meeting today to consider four nominations to important positions at the Treasury Department. 

“As I stated at the nomination hearing on May 25, Treasury has been given ever widening authorities and responsibilities over time. 

“And, with increased responsibility comes the need for transparency, accountability and responsiveness. 

“The Treasury Department is engaged in activities which can have enormous impacts on the American economy, workers, businesses and even people’s personal checking and savings accounts. 

“There are proposals and negotiations to cede U.S. taxing rights to other countries, premised partly on political rhetoric about races to the bottom and taxing big corporations. 

“There are proposals and activities to create stifling new reporting and regulatory requirements on businesses under the guise of as-yet unknown and unmeasured climate risks.  

“And, there are proposals to massively increase the size and reach of the IRS, including looking into checking and savings accounts of almost every individual and business in the country. 

“With all of that in the works, we need assurances that those in charge at Treasury will be responsive to Members of Congress from both sides of the aisle. 

“I made it quite clear in the hearing with the four Treasury nominees that transparency is important, and that I expected detailed responses to questions that I ask of them. 

“I intend to vote yes on the nomination of Mr. Davidson, who has responded adequately to questions I have asked him and who seems to have a desire for Treasury to be transparent. 

“I intend to vote yes on the nomination of Mr. Harris, whose responses to my questions indicate that he is willing to entertain and debate positions that may differ from his own.    

“I also intend to vote yes on Ms. Batchelder and Ms. Liang, but have asked that they work with me to improve their level of responsiveness to questions that I have asked them and responsiveness of Treasury more generally.   

“And, I have received firm assurances that they will. 

“There are policy positions and views held by many in political positions at the Treasury Department with which I disagree.   

“Reasonable people can disagree, but should always be willing to fully debate and defend views with data and reason.  Evading responsiveness does not help us to arrive at good outcomes. 

“Most importantly, there is a need as often as possible to arrive at bipartisan compromises and policies that will stand the test of time.   

“Thank you for holding this executive session today, Mr. Chairman, and I yield back to you.”