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Toomey Lands Finance Committee Spot

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Sen. Pat Toomey

Sen. Pat Toomey is moving up in the world. The freshman Republican will join the powerful Finance Committee, the first stop for tax reform legislation and other big-impact legislation.

“I am honored to receive a seat on the Senate Finance Committee, which is a huge win for Pennsylvania and will ensure that our state is represented on one of the most important committees in Congress,” Toomey said.

The Finance Committee is one of the most influential in the Senate and the primary goal for policy wonks. It’s the equivalent of the House Ways and Means committee and is responsible for writing tax law. That would include any major tax reform effort, something both sides of the aisle expect in the coming session.

“With our skyrocketing deficits and stagnant economy, I look forward to working with my colleagues on both sides of the aisle to enact pro-growth reforms of our inefficient and overly complex tax code and modernize our entitlement programs to make them sustainable for the long-term,” he continued.

Toomey is the former head of the influential Club for Growth, a former member of the ‘supercommittee,’ and the chair of the Senate Steering Committee (the Senate policy caucus for conservative Republicans).

Toomey is one of two freshman to win the assignment, one that he’s sought since winning election in 2010. He’d given up his spot on the Commerce Committee but will remain on the Banking, Housing and Urban Affairs; Budget; and Joint Economic committees.

There’s a chance that both of Pennsylvania’s Senators could wind up on Finance. With John Kerry on his way to becoming Secretary of State, his seat is now vacant. DC chatter indicates that Casey is at the front of the line to fill it.

9 Responses

  1. While he’ll talk a big game about a fairer, simpler tax code, Pat Toomey is on the Finance Committee to protect the loopholes exploited by Goldman Sachs and other banksters.

  2. It is 100 % fact that Toomey traded his vote on the fiscal cliff bill for Sen. Mitch McConnell to give him a slot on Finance Committee. Done deal

  3. This appointment was a payoff for “Principled Conservative” Pat Toomey voting in favor of the rotten fiscal cliff deal, which gave millions in tax earmarks to special corporate interests. He wouldn’t be on the committee had he stayed true to his beliefs and voted no.but the only thing he believes in is what his corporate overlords tell him to think. Face it- toomey lacks the courage of his convictions. He’ll never be in leadership because sensible lawmakers can’t trust him on the easy stuff (Sandy victims aid) and true conservatives are learning he doesn’t believe a word he says.

  4. “We Republicans need to be willing to tolerate a temporary, partial government shutdown,”

    He’s not off to a great start. Looking to hurt his country is really not what we were hoping for.

  5. Does he have the fortitude to stand up for what’s right when it comes to reforms? I’ll be watching.

  6. This is a big deal as Senator Toomey will been in the room when Senate Republicans and the White House go mano-a-mano in legislating real, long term tax reform. One should see this appointment as the death knell of the tax system as we know it and a new pro-growth system emerging, with the Senator leading the charge.

    If He succeeds here, he writes his own ticket for his future…..Minority Leader (or Majority if Republicans win it back), or a place on a future Presidential ticket. His power broker status in Pa. is already secure. It all turns now on how prominent and forward leaning he places himself on this one committee.

  7. I don’t see two Senators from the same state being appointed to the same, powerful committee. Geographically, it’s not fair.

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