At a recent hearing of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Chairman Tim Scott of South Carolina stressed the need to confirm President Trump's nominees. He argued that these appointments would reverse what he called burdensome regulations imposed by the Biden administration and pave the way for economic growth.
The nominees discussed included Paul Atkins for Chair of the Securities and Exchange Commission, Jonathan Gould for Comptroller of the Currency, Luke Pettit for Assistant Secretary of the Treasury, and Marcus Molinaro for Federal Transit Administrator.
"We have an opportunity to take another step toward reigniting President Trump’s blue-collar comeback," Scott stated in his remarks. He highlighted that confirming these nominees is crucial to addressing issues such as housing affordability and access to capital, which are significant concerns for American families.
Scott criticized the SEC under Chair Gary Gensler for stifling innovation. He praised nominee Paul Atkins, a former SEC Commissioner, for his dedication to enhancing U.S. capital markets and promised to work alongside him to promote entrepreneurial access to capital.
In discussing Jonathan Gould's nomination as Comptroller of the Currency, Scott acknowledged Gould's previous experience with the agency. Scott expressed hope that Gould would end practices he attributed to political bias and focus on fair financial service access.
Scott also recognized Rodney Hood, the Acting Comptroller, for his contributions to pro-growth reforms, noting his alignment with Scott's FIRM Act in removing certain guidelines from OCC bank examination processes.
Luke Pettit's nomination as Assistant Secretary of the Treasury was noted as significant due to his committee experience, which Scott believes will enable him to address financial challenges effectively.
Finally, Scott endorsed Marcus Molinaro for Federal Transit Administrator, citing his practical experience and local government service as key qualifications for the role, which involves ensuring effective and safe mass transit.
By confirming these nominees, Scott envisions a period of prosperity where American families can afford homes, save for the future, and realize the American Dream. "Let’s get to work. Let’s get these nominees confirmed. And let’s make America great again," Scott concluded.