Dec 12, 2024 - Politics & Policy

Rep. French Hill wins powerful House Financial Services gavel

Juliegrace Brufke

WASHINGTON, DC - DECEMBER 10: Fog hovers over the dome of the U.S. Capitol on December 10, 2024 in Washington, DC. The National Defense Authorization Act, usually gets huge bipartisan margins but there are critics of the bipartisan NDAA deal reached over the weekend on both sides of the aisle. With — Steam from a vent obscures the U.S. Capitol dome. Photographer: Julia Nikhinson/Bloomberg

Rep. French Hill (R-Ark.) edged out a crowded field to score the highly coveted House Financial Services Committee gavel.

Why it matters: Hill, who won the GOP steering committee's backing Thursday, will help lead the House's efforts to collaborate with President-elect Trump's administration on cryptocurrency, banking policy, the pot industry and a range of other issues.

Reps. Andy Barr (R-Ky.), Bill Huizenga (R-Mich.) and Frank Lucas (R-Okla.) all sought the position, which is being vacated by retiring Rep. Patrick McHenry (R-N.C.).
The race has been closely watched on Capitol Hill and by the banking community on K Street.
The contenders all could point to strong fundraising records and are close to leadership.

The big picture: The Financial Services Committee is seen as one of the most powerful on Capitol Hill, with broad jurisdiction over monetary, housing and banking policy as well as international finance.

The House Republican Conference is expected to ratify the steering committee's pick in the coming days.

— Axios Hans Nichols contributed reporting.

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Rep. French Hill wins powerful House Financial Services gavel

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