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Renacci on Lew: I Have Serious Reservations

Location: Washington, DC

Today, U.S. Representative Jim Renacci (OH-16) released the following statement regarding President Obama's nomination of White House Chief of Staff Jack Lew to serve as the 76th Secretary of the Treasury:

"While I respect the President's right to choose his own Cabinet, I have serious reservations about his decision to nominate White House Chief of Staff Jack Lew to be Treasury Secretary. Simply put, I do not believe Mr. Lew possesses the expertise on our banking industry that the position requires.

"Furthermore, over the last several years as Director of the Office of Management and Budget and then at the White House, Mr. Lew has overseen the creation of some the highest spending Presidential budgets our nation has ever seen. That does not instill great confidence in me that he truly understands what our banking industry, our economy or American families are facing with this Administration's fiscal policy. That being said, if Mr. Lew is confirmed by the Senate I will work with him in my capacity as a member of the House Financial Services Committee to ensure we are all doing what is right for the American people."

Rep. Renacci is serving his second term in the U.S. House of Representatives, where he is a member of the Financial Services Committee and the Budget Committee. Prior to his election he worked as a Certified Public Accountant in the health care industry, and owned and operated over 60 other businesses in the automotive and sports management fields.

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