Michael D Crapo

Senate Banking Panel Advances Fed, Two Other Financial Nominees
Economics professor Marvin Goodfriend endorsed for Federal Reserve Board

The Senate Banking Committee has narrowly endorsed the nomination of Marvin Goodfriend to the Federal Reserve Board of Governors. (Tom Williams/CQ Roll Call file photo)

The Senate Banking Committee narrowly endorsed Thursday the nomination of Marvin Goodfriend to the Federal Reserve Board as Democrats complained that the economics professor is more focused on fighting inflation than creating jobs.

Goodfriend faced opposition from Democrats because of what they described as a lack of commitment to the Fed’s goal of supporting maximum employment. His nomination advanced on a party-line vote of 13-12.

Shutdown Begins After Midnight Deadline Passes
Senate has a vote on funding scheduled for 1 a.m. Friday

The latest government shutdown is the second in less than a month. (Bill Clark/CQ Roll Call file photo)

It’s official: The federal government has entered yet another partial shutdown. 

The Senate reopened at 12:01 a.m. Friday after recessing just before 11 p.m. Thursday, as Sen. Rand Paul continued his objections to moving up the timetable for a procedural vote on legislation that would extend government funding past the midnight deadline. That vote is currently set for 1 a.m.

Budget Deal Facing Senate Slowdown, House Objections
Second shutdown in as many months looms larger

Congress continued to lurch toward another government shutdown on Thursday. (Bill Clark/CQ Roll Call)

Updated at 6:47 p.m.Confidence quickly waned Thursday afternoon that a massive $320 billion budget package with stopgap funding needed to avert a government shutdown at midnight would pass quickly as senators lodged procedural objections.

And if House Democratic leaders move from a passive vote-counting effort against the package to an aggressive one — neither chamber may have the time or the votes to pass the package before the current funding bill expires.

Senate Leaders Announce New Committee Rosters
Ratio change gives GOP a one-seat advantage at all committtees

Sen. Doug Jones, D-Ala., received his committee assignments on Tuesday. (Bill Clark/CQ Roll Call)

The full Senate is set to ratify revised committee rosters and ratios before adjourning Tuesday evening.

The changes add a Democrat to the Finance and Judiciary Committees, because each needed new Democrats to provide an across-the-board one-seat advantage for the GOP with their diminished majority.

It’s Not Just Romney: Hatch Retirement Could Lead to Decisions for Grassley, Crapo
Judiciary chairman appears to have time left as leader of Finance panel

Sens Charles E. Grassley and Orrin G. Hatch have served alongside each other at the Finance and Judiciary committees. (Scott J. Ferrell/CQ Roll Call file photo)

When GOP Sen. Orrin G. Hatch announced Tuesday that he will retire from the Senate after serving Utah for more than four decades, talk quickly turned to whether Mitt Romney will seek to succeed him.

But on Capitol Hill, the pending departure of the Finance Committee chairman — who could have wielded the tax writing gavel for two more years under conference rules — also raises questions about which senator will lead the GOP on taxes, trade, health care and entitlements.

Hatch’s Congressional Career in Photos
The seven-term Utah senator said he’s retiring at the end of this term

Nov. 13, 2017: Ranking member Sen. Ron Wyden, D-Ore., Chairman Orrin G. Hatch, R-Utah, Sen. Chuck Grassley, R-Iowa, Sen. Rob Portman, R-Ohio, and Sen. Michael D. Crapo, R-Idaho, arrive for the Senate Finance Committee markup of the Tax Cuts and Jobs Act. (Bill Clark/CQ Roll Call)

Sen. Orrin G. Hatch, a staple of the Senate for more than 40 years, said Tuesday that he will retire at the end of his term and not seek re-election in the 2018 midterms. 

Roll Call dug into our archives to find a few highlights of the Utah Republican’s seven terms in office:

Senate Banking Advances Powell Nomination for Fed Chairman
Sen. Elizabeth Warren only senator to vote against recommendation

Jerome Powell earned the support of all but one member of the Senate Banking Committee to advance his nomination for Fed chairman. (Photo By Tom Williams/CQ Roll Call)

The Senate Banking Committee voted 22-1 Tuesday to recommend confirmation of Jerome Powell as the next chairman of the Federal Reserve. Massachusetts Sen. Elizabeth Warren voted against the recommendation.

Powell received the support of Chairman Michael D. Crapo, who had voted against him during his renomination to the Fed board in 2014.

Opinion: Bipartisanship Still Exists and Financial Reform Is Proof
Senate bill isn’t perfect, but it can have a lasting effect

The Senate Banking, Housing and Urban Affairs Committee will mark up a bipartisan bill this week. From left, Chairman Michael D. Crapo, Republican Sen. Jerry Moran, ranking member Sherrod Brown and Democratic Sen. Brian Schatz prepare for a hearing in July. (Tom Williams/CQ Roll Call file photo)

As U.S. politics descends ever further into partisanship, there are still signs that old-fashioned legislating is not dead. This week, the Senate Banking Committee will mark up one of the first significant pieces of financial regulatory legislation in years with real bipartisan support. That means an opportunity for lasting, incremental progress that we should welcome.

The proposed bill, which has 10 Republican and 10 Democratic co-sponsors, would not revolutionize the U.S. financial regulatory system, and that’s a good thing. The Dodd-Frank Act and other post-financial crisis reforms have made the financial system and Americans safer overall, but like most major reforms, they have also created unintended consequences. The Senate bill would address some of these, while retaining the overall post-crisis framework that is generally working.

Governors’ Obamacare Waiver Power Would Broaden Under GOP Proposal
Discussion draft shows easier path to 1332 waiver

Senate Finance Chairman Orrin G. Hatch finds himself in a turf war with HELP Chairman Lamar Alexander over health care. (Al Drago/CQ Roll Call file photo)

Legislation from two Republican senators would allow governors to implement a waiver under the 2010 health care law without approval from state legislatures, a departure from current law, according to a discussion draft obtained by Roll Call.

The bill from Senate Finance Chairman Orrin G. Hatch and Idaho Sen. Michael D. Crapo would end the requirement for states to pass legislation to implement a so-called 1332 waiver. It would also let governors unilaterally end the program and would mandate that the Department of Health and Human Services secretary make a determination on a waiver application within 100 days.

Trump Picks Jerome Powell to Head Federal Reserve
President praises nominee as a “consensus builder”

Jerome Powell, who was nominated by President Donald Trump for chairman of the Federal Reserve, looks on as Trump speaks at the White House Rose Garden on Thursday. (Drew Angerer/Getty Images)

President Donald Trump announced Thursday he has selected Jerome H. Powell to be the next chairman of the Federal Reserve. Powell, a longtime Republican, has been a member of the Fed’s board of governors for five years.

“I hope the Senate will swiftly confirm him once again,” Trump said in an announcement Thursday at the White House Rose Garden. He also called the nominee a “consensus builder,” who understands what it will take to grow the economy.