Today, Congressman Patrick McHenry (NC-10), the Republican Leader of the House Financial Services Committee, led the Committee's first quarterly oversight hearing under the CARES Act with Secretary of the Treasury, Steven Mnuchin, and Chairman of the Federal Reserve, Jerome Powell, to discuss the response to the economic crisis caused by the COVID-19 global pandemic. In his opening remarks, Congressman McHenry spoke about the important actions already taken in response to the pandemic, and the w...
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Today, the U.S. Supreme Court ruled in Seila Law LLC v CFPB that the Consumer Financial Protection Bureau’s (CFPB) leadership structure is unconstitutional. The Court agreed with arguments made by House Republican leadership and Financial Services Committee Republicans that the CFPB's leadership structure, which features a single head removable only for inefficiency, neglect, or malfeasance violates the separation of powers. Congressman Patrick McHenry (NC-10), the Republican Leader of the House...
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Yesterday, the Financial Services Committee held a virtual hearing with Federal Reserve Chairman Jerome Powell on the state of our economy and the Federal Reserve’s actions to respond to the economic crisis caused by the global health crisis. In his opening remarks, Congressman Patrick McHenry (NC-10), the Ranking Republican of the House Financial Services Committee, commended the Fed’s rapid and decisive action to prevent the worst effects of the economic catastrophe brought about by the corona...
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Today, Congressman Patrick McHenry (NC-10) announced a $500,000 U.S. Department of Justice COPS Hiring Program (CHP) grant awarded to the Cleveland County Sheriff's Office. The Cleveland County Sheriff’s Office will use the FY 2020 CHP award to fund four new school resource officer positions for Cleveland County Schools. With the addition of these officers, every school in the Cleveland County Schools system will have a resource officer for the first time. “This is major milestone for school saf...
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Congressman Patrick McHenry (NC-10) released the following statement on the passing of his friend and former colleague, Congressman Sam Johnson (R-TX): “There aren’t many members who when they speak, everyone listens. Sam Johnson was one. It is a rare thing to meet an American hero with such strength, fortitude, and faith, and it was even rarer to work with one. Sam was one of the finest human beings I’ve served with and I’m honored to have called him a friend. May he rest in peace.”
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Today, Congressman Patrick McHenry (NC-10) introduced H.R. 7017, the Right to Test Act – legislation that will allow individual states to approve and distribute diagnostic tests when the state or federal government has declared a public health emergency. "This current pandemic has taught us that widespread and readily available testing is crucial to our ability to quickly and effectively respond to an emerging public health emergency. Yet, our nation’s current regulatory structure prevents this,...
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Today, Congressman Patrick McHenry (NC-10) issued the following statement after Speaker Nancy Pelosi and Congressional Democrats passed their $3 trillion partisan proposal in response to the coronavirus pandemic: "Here we are again - another liberal, partisan spending bill jammed through the House. What we need is a serious, thoughtful approach to help get families and communities healthy, back on their feet, and ensure it is safe to go about their normal lives. This requires Congress to take de...
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Today, Congressman Patrick McHenry (NC-10), the top Republican on the House Financial Services Committee, sent a letter to Speaker of the House, Nancy Pelosi, urging her to act now to protect small businesses and their employees by funding the Paycheck Protection Program (PPP). Funding for this bipartisan program ran out yesterday after Democrats repeatedly blocked Republicans’ attempts to replenish the funds that have already helped small businesses keep workers on payroll, hire back furloughed...
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Congressman Patrick McHenry (NC-10), the top Republican on the House Financial Services Committee, released the following statement on the need to immediately replenish Paycheck Protection Program (PPP) funding: “It was clear, funding for the Paycheck Protection Program was going to run out quickly—after all, this is one of the most popular and necessary programs in the CARES Act. Rather than work with us, Democrats blocked funding while Speaker Pelosi falsely claimed there was no evidence that ...
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Since its launch last Friday, April 3rd, small businesses around the country are able to start applying for payroll support through the Paycheck Protection Program. This critical provision in the recently passed bipartisan Coronavirus Aid, Relief, and Economic Security (CARES) Act provides more than $350 billion in small business loans to support those hit hardest by the coronavirus pandemic. Congressman Patrick McHenry (NC-10), the Ranking Republican of the House Financial Services Committee, p...
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