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Washington, D.C. - Today, Senate Banking Committee Chairman Tim Scott (R-S.C.) led a hearing on the nominations of Dr. Christopher Phelan to chair the Council of Economic Advisers, John Crews to serve on the National Credit Union Administration Board, and Jeffrey Ledbetter to serve as Inspector General at the Department of Housing and Urban Development. Chairman Scott emphasized the need to get qualified leaders in place to advance President Trump's agenda, lower costs, expand access to affordable financial services, protect taxpayer dollars, and ensure key agencies serve the American people.
Chairman Scott's opening remarks as delivered:
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Good morning. I call this hearing to order.
I want to begin by welcoming each of our nominees.
Thank you for your willingness to serve our remarkable country.
Public service is obviously not easy.
It takes sacrifice, patience, and commitment to the American people.
The roles before us today will have a significant impact.
They matter for families trying to make ends meet.
They matter for taxpayers who deserve accountability.
They matter for financial institutions serving their communities.
And they matter for the strength of our economy.
This hearing is about getting qualified leaders in place so President Trump's agenda can move forward, and these agencies can focus on the people they are supposed to serve.
The American people elected President Donald J. Trump to bring down costs, restore accountability, and put common sense back at the center of government.
To do that, he needs his team in place.
Agencies cannot operate at their best without steady, clear leadership and people ready to serve.
Dr. Phelan, your nomination to chair the Council of Economic Advisers comes at a very important time.
Families in South Carolina and across the country are still focused on the same kitchen-table questions: Can I afford my mortgage or my rent? Can I find a good-paying job? Can my small business continue to grow? And will my children have better opportunities than I had?
Those are not abstract economic questions.
They are real-life questions for families throughout South Carolina and our country.
Economic leadership matters because policy choices affect costs, wages, investment, growth, and opportunity.
I look forward to hearing how your decades of experience and sound judgment will help the President advance an agenda that strengthens the economy and makes life more affordable.
Mr. Crews, your nomination to the National Credit Union Administration also matters for everyday Americans.
Credit unions help families, workers, and small businesses save, grow, buy a car, start a business, and handle the unexpected costs that life throws your way.
When the credit union system is strong and competitive, Americans have more choices and better access to affordable financial services.
The NCUA needs a leader who understands safety and soundness, but also knows that unnecessary regulatory burdens can raise costs and limit access.
Your experience in both Congress and the administration gives you a strong understanding of how policy decisions affect credit unions, their members, and the communities they serve, and I look forward to hearing how you would support a safe, sound, and competitive credit union system that works for everyday Americans.
Mr. Ledbetter, your nomination to serve as the Inspector General at the Department of HUD comes at a time when housing affordability is one of the greatest challenges facing our families.
Taxpayers deserve accountability.
Families waiting for help deserve competence.
HUD programs must work for the people they are intended to serve.
Strong oversight helps make sure taxpayer dollars actually reach the families they were meant to help.
I look forward to hearing about how, if confirmed, you would use your 30 years of experience in federal and military law enforcement to protect taxpayers and root out waste.
Every single dollar lost to waste or mismanagement is a dollar that cannot be used to preserve affordable housing, assist renters, support homeownership, or address housing supply shortages.
Together, these nominees represent an opportunity to strengthen economic policy, expand access to affordable financial services, protect taxpayers, and restore trust in important public institutions.
At the heart of this Committee's work is a simple belief: every family deserves a fair shot at building a better life.
That requires qualified leaders, sound judgment, and a government focused on people, not politics.
These nominees should be judged on their qualifications, experience, and commitment to serving the American people, not simply on who nominated them.
I look forward to your testimony and to working with my colleagues to move these qualified nominees forward.
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