McHenry to run for top GOP spot on House banking panel

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WASHINGTON — Rep. Patrick McHenry, R-N.C., announced Thursday that he will put his hat in the ring to become ranking member on the House Financial Services Committee after Republicans lost their majority.

It had been speculated McHenry wanted a higher leadership position in the GOP caucus. He is currently the vice chair of the Financial Services Committee and could have been in the running to chair the panel had Republicans kept control of the House.

The current chairman, Rep. Jeb Hensarling, R-Texas, is retiring. After the Democrats won back the House Tuesday night, Rep. Maxine Waters, D-Calif., is expected to chair the committee.

The North Carolina congressman had filled in as majority whip after Rep. Steve Scalise, R-La., was injured during the 2017 shooting at a practice for the GOP's congressional baseball team.

“I have a strong record on the committee, having worked with both Republicans and Democrats to increase access to capital for American small businesses and families,” McHenry said in a statement.

“That said, my eyes are wide open to the goals of the new Democrat majority,” McHenry added. “I am fully prepared to fight back against any efforts by Democrats to use this committee to roll back our successes from the last two years or use the committee as the launch pad for endless, partisan investigations.”

After his announcement Thursday, McHenry was endorsed by another lawmaker on the panel, Rep. Blaine Luetkemeyer, who had previously expressed interest in holding the top Republican spot on the committee.

“Since the beginning, I’ve expressed my strong interest in leading the House Financial Services Committee, however Tuesday’s election results changed the realities of the House. Congressman Patrick McHenry will serve the Financial Services Committee well, working to find common ground with the Democratic Chair and serving as loyal opposition when the need arises," Luetkemeyer said in a statement. "I offer my unwavering support for Patrick’s candidacy to be the Ranking Republican on the Committee, and believe he is the right man for the job.”

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