Yesterday, at the Financial Services Committee organizational meeting, Congressman Bill Huizenga (MI-02) was nominated Vice Chairman of the Subcommittee on Monetary Policy and Trade (MPT). MPT is one of five subcommittees of the prestigious Financial Services Committee. As Vice Chair, Congressman Huizenga will assist Subcommittee Chairman John Campbell (CA-45) in running committee hearings and essential committee operations.
"I am honored to be named Vice Chair of the Monetary Policy and Trade Subcommittee. I look forward to working with both Chairman Jeb Hensarling and Subcommittee Chairman John Campbell to ensure the proper oversight of the Federal Reserve and to continue to monitor the impact of the euro zone's distress and its effects on the U.S. and global economy," said Huizenga.
The Subcommittee on Monetary Policy and Trade has jurisdiction over legislation pertaining to:
* Economic growth and stabilization;
* Domestic monetary policy, including the effect of such policy and other financial actions on interest rates, the allocation of credit, and the structure and functioning of domestic financial institutions;
* Coins, coinage, currency, and medals, including commemorative coins and medals, proof and mint sets and other special coins, and counterfeiting;
* International trade;
* The International Monetary Fund (IMF);
* International investment policies, both as they relate to United States investments for trade purposes by citizens of the United States and investments made by all foreign entities in the United States.
Congressman Huizenga has also been appointed to serve on the Subcommittee on Capital Markets and Government Sponsored Enterprises. This subcommittee will have jurisdiction over issues surrounding:
* Securities, exchanges, and finance;
* Capital markets activities, including business capital formation and venture capital;
* Activities involving futures, forwards, options, and other types of derivative instruments;
* The Securities and Exchange Commission (SEC);
* Secondary market organizations for home mortgages, including the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Federal Agricultural Mortgage Corporation;
* The Federal Housing Finance Agency; and
* Federal Home Loan Banks.
This will be Congressman Huizenga's second term serving on the House Financial Services Committee. In the 112th Congress, Congressman Huizenga served on the Domestic Monetary Policy, International Monetary Policy and Financial Institutions Subcommittees.