Toomey Tapped to Serve on Economic Oversight Committee
Pennsylvania’s GOP Senator will serve on a panel to coordinate the oversight of the “biggest rescue package in the history of Congress.”
On Friday afternoon, Senate Majority Leader Mitch McConnell selected Sen. Pat Toomey to serve on the five member Congressional Oversight Commission, which was established by the CARES Act to specifically focus on the “economic stabilization efforts of the Treasury Department and the Federal Reserve.”
“I appreciate Leader McConnell’s confidence in appointing me to the Congressional Oversight Commission,” Toomey said in a statement. “The Treasury Department and the Federal Reserve are being entrusted with enormous resources and authority to stabilize the economy. As a commissioner, my goal will be to protect the taxpayers by ensuring those resources are used in an appropriate, equitable, and pro-growth manner.”
In a release announcing Toomey’s selection on the panel, McConnell said that the oversight for the committee will be “appropriate, objective, and nonpartisan” and lauded the Pennsylvania Senator as “one of the sharpest members of the Senate.”
“Senator Toomey is one of the sharpest members of the Senate,” McConnell said. “He is a leader on economics and finance and a key member of the Finance, Banking, and Budget Committees. The Commission will benefit greatly from his expertise.”
Sen. Mike Crapo (R-ID), chairman of the Senate Banking Committee, will coordinate the Senate’s oversight of the CARES Act. Others who were selected to serve on the committee are Rep. Donna Shalala (D-FL), who was picked by House Speaker Nancy Pelosi, former Rep. French Hill (R-AR), who was selected by House GOP Leader Kevin McCarthy, and Bharat Ramamurti, a former aide to Sen. Elizabeth Warren (D-MA), was chosen by Senate Democratic leader Chuck Schumer.