Wyden Statement on Reported Choice of Steven Mnuchin to be Treasury Secretary
Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today issued the statement below following reports that President-Elect Trump will nominate Steven Mnuchin to serve as Treasury Secretary:
“Given Mr. Mnuchin’s history of profiting off the victims of predatory lending, I look forward to asking him how his Treasury Department would work for Americans who are still waiting for the economic recovery to show up in their communities. The Treasury Secretary has the power to help reconnect working Americans with this country’s economic engine, whether it’s through tax reforms that fight unfairness, rules that rein in Wall Street abuses, or infrastructure and trade policies that create jobs in the U.S. Any Treasury nominee will find partners among Democrats eager to pursue those policies. I hope to learn much more about Mr. Mnuchin’s views as his nomination gets a full and thorough review from the Finance Committee in the coming weeks.”
The Finance Committee conducts a thorough review of all nominations that come before the committee. Under a longstanding tradition maintained by Democratic and Republican committee leaders, nominees are required to provide the following documents for review: tax returns from the previous three years; ethics forms from the Office of Government Ethics (OGE) and the agency relevant to the nomination; an OGE public financial disclosure report; and a standard committee questionnaire. The committee does not begin the review process until all documents have been provided. Once the documents have been reviewed to the satisfaction of both sides, the process continues with due diligence meetings, staff- and member-level meetings and a committee hearing. After a hearing has been held and the nominee has responded to any follow-on questions for the record, the committee may proceed to vote on the nomination in a markup.
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