Republican members of the U.S. Senate Banking, Housing, and Urban Affairs Committee worked together during the current Congress to promote economic opportunity and capital formation, put more Americans on the path to homeownership, protect the nation’s economic security, and hold the Biden administration accountable, according to a new report released Dec. 30 by U.S. Sen. Tim Scott (R-SC), the committee’s ranking member.
In his 2024 Year-End & Oversight Report for the 118th Congress, Scott highlights the accomplishments of GOP committee members over the past year and details the committee’s oversight work of the Biden administration during the 118th Congress.
“As a result of the Biden-Harris administration’s policies, hard-working Americans across the country have been met with unprecedented challenges,” Scott said Monday in a statement. “That’s why… I’ve been proud to work with my colleagues to lead serious solutions to these challenges and push back on rules and regulations that have stifled economic opportunity.”
For instance, on the legislative front, Scott said committee Republicans worked on pro-growth policies to support communities across the country, such as those aimed at putting more Americans on the road to housing; empowering Main Street businesses; protecting universities from Chinese influence; and cracking down on the illegal fentanyl trade, according to the report.
“Congress successfully passed — and the president signed into law — my legislation to target the illicit fentanyl trade and the illegal money laundering operations supporting this devastating criminal enterprise,” said the congressman.
Among the initiatives that committee Republicans also worked on to protect consumers and increase financial inclusion were to promote financial innovation, and to fight what they considered to be false narratives released by the Consumer Financial Protection Bureau (CFPB), the report says.
Scott also pointed out that throughout his time as ranking member, he focused on ensuring that financial and housing regulators remained transparent and accountable to the American people.
“As Senate banking Republicans look toward the next Congress, I am honored to continue leadership of this important committee by fighting for an economy that allows all Americans — regardless of their zip code or income level — to achieve their version of the American dream,” he said.