Chairman Scott Highlights American Competitiveness and Housing Affordability at Nominations Hearing

Washington, D.C. — Today, Senate Banking Committee Chairman Tim Scott (R-S.C.) led a hearing on President Trump’s nominations of David Slade and Michael Rigas for the Export-Import Bank, Matthew Jones for the Department of Housing and Urban Development, and Jeremy Wiggins for the Treasury Department. Chairman Scott highlighted EXIM’s role in helping American companies compete with China and the importance of maintaining a functioning board to approve major transactions. He also discussed housing affordability, implementation of the 21st Century ROAD to Housing Act, and how international trade and investment affect American jobs and supply chains.

Chairman Scott’s opening remarks as delivered:

I call this hearing to order.

I want to begin by welcoming our four nominees.

Thank you for your willingness to serve.

Public service is obviously not easy.

It takes sacrifice, patience, and a commitment to the American people.

The positions before us today will help determine whether American businesses can compete overseas, whether families can afford a home, and whether our economy and country can stay strong in a changing global economy.

Mr. Slade and Mr. Rigas, your nominations to the Export-Import Bank come at an important moment.

EXIM helps American companies compete on a playing field where foreign governments are often subsidizing and financing their own businesses.
Chief among them: China.

China is not shy about using every single tool in the toolkit to support its companies and expand its influence.

America should not fight in competition with one hand tied behind our back.

We need an Export-Import Bank that helps American companies win, strengthens critical supply chains, supports our energy and technology leadership, and protects taxpayers along the way.

These nominations also matter because EXIM’s ability to approve major transactions depends on maintaining a functioning Board with a quorum.

For businesses in South Carolina and across the country, access to EXIM financing can mean the difference between winning a contract and losing it to a foreign competitor, and between expanding a plant in America and seeing that business go overseas.

Both of these nominees bring extensive experience in the private and public sectors that will help the EXIM Bank support American businesses.

Mr. Jones, your nomination to lead the Federal Housing Administration and the Office of Housing comes at a critical time.

Housing affordability remains one of the biggest challenges facing the American people.

For a first-time homebuyer in Hanahan, South Carolina, or a young family in Greer, South Carolina, the American Dream of homeownership can feel further and further away.

FHA plays an important role in helping families access mortgage financing, while also protecting taxpayers and keeping the housing finance system strong.

At the same time, the programs in the Office of Housing drive innovations in manufactured housing, provide an important safety net for the elderly and those with disabilities, and support housing counseling efforts nationwide.

You already know the mission very well.

In your current role as the Deputy Assistant Secretary for Single Family Housing, you play a critical role in advancing the goal of making the dream of homeownership a reality for many Americans.

Your private sector and Capitol Hill experience further strengthens that background, and I am confident you are the right person at the right time for the job.

I look forward to hearing how you would build on that experience, help implement the 21st Century ROAD to Housing Act, and make sure FHA works for the families it was created to serve.

Mr. Wiggins, if confirmed, your role at Treasury will put you at the center of important conversations about international trade, investment, and infrastructure.

Those issues affect American jobs, energy security, supply chains, and our ability to compete around the world.

Your current work at Treasury, combined with your experience in international investment and economic policy, will bring valuable perspective to this role.

I look forward to hearing how you would use that position to advance American economic interests, work with our allies, and make sure the United States leads rather than follows.

At the heart of this hearing is a simple idea.

President Trump needs a qualified group of people in place to carry out his agenda, and the American people deserve leaders who understand whom they work for.

Each of you will be asked to make decisions that affect families, workers, businesses, and taxpayers.

I look forward to your testimony and to hearing how you will use these positions to expand opportunity, strengthen American competitiveness, and deliver results for the people we serve.