Trump Team Considering Rep. Jeb Hensarling as Treasury Secretary
November 10 2016 - 5:10PM
Dow Jones News
WASHINGTON—Aides to President-elect Donald Trump are considering
Rep. Jeb Hensarling (R., Texas) as a candidate for Treasury
secretary, a pick that would bring an elected official with a
free-market background and deep GOP ties into one of the cabinet's
most powerful posts, people familiar with the matter said.
Mr. Hensarling, a former congressional aide who now represents
the Dallas area, is chairman of the House Financial Services
Committee, a panel he has served on for more than a decade. He has
pursued top Republican priorities, such as rolling back the 2010
Dodd-Frank law.
People familiar with the matter said the transition process has
only ramped up in recent days, and they are far from making final
recommendations to Mr. Trump. Still, Mr. Hensarling's Texas roots
could offer a sharp contrast to other potential nominees,
particularly those with the kind of Wall Street ties that Mr. Trump
railed about during the campaign.
Mr. Hensarling said in an interview Thursday he would "certainly
have the discussion" if the Trump administration came calling.
"But I'm not anticipating the telephone call," Mr. Hensarling
added. "It is not something I've indicated interest in. It is not
something I am pursuing…I think I'm in a pretty good position now
to advance the cause."
Mr. Hensarling's consideration shows the strong influence Vice
President-elect Mike Pence has on key decisions. Messrs. Pence and
Hensarling worked closely together in the House of Representatives,
and their views on many financial issues are closely aligned.
Mr. Hensarling had backed Sen. Ted Cruz (R., Texas) for
president during the primary, but he later endorsed Mr. Trump and
praised him for selecting Mr. Pence as his running mate.
Mr. Hensarling has been a leading critic of the U.S.
Export-Import Bank, which finances U.S. exports. The Export-Import
Bank's charter lapsed for nearly five months last year after Mr.
Hensarling led a campaign to block its reauthorization. The bank
has been unable this year to back deals larger than $10 million
because the Senate hasn't filled vacant board positions.
Mr. Hensarling also sought to pass legislation in 2013 that
would phase out government-controlled mortgage companies Fannie Mae
and Freddie Mac, a key piece of unfinished business from the 2008
financial crisis the Trump administration is likely to inherit.
Nick Timiraos contributed to this article.
Write to Damian Paletta at damian.paletta@wsj.com, Ryan Tracy at
ryan.tracy@wsj.com and Michael C. Bender at Mike.Bender@wsj.com
(END) Dow Jones Newswires
November 10, 2016 16:55 ET (21:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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