Home National Politics Sen. Tim Kaine to Oppose Steven Mnuchin for Treasury Secretary

Sen. Tim Kaine to Oppose Steven Mnuchin for Treasury Secretary

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Thank you Sen. Tim Kaine!

I will vote against the nomination of Steven Mnuchin to be Secretary of the Treasury. After closely following his confirmation hearings, I am not confident Mr. Mnuchin will be an advocate for working families and their financial security. His complicity in the 2008 financial crisis raises serious doubts about whether he will prioritize the interests of Virginians who are trying to build personal savings while keeping their homes and being able to send their kids to college.

The Treasury Department has arguably the most impact of any federal agency on the personal wealth of every American. Mr. Mnuchin previously led a bank that wrongly foreclosed on homeowners and is under investigation for its loan-servicing practices. His confirmation hearing and disclosures do not provide sufficient evidence or transparency into how Mr. Mnuchin would protect people’s savings and investments, and prevent foreclosures should we face another recession.

For someone who pledged to drain the swamp and advocate for working people, President Trump’s nomination of Mr. Mnuchin to be Secretary of the Treasury amounts to another broken promise. Combined with efforts to repeal Dodd-Frank regulations that have made the economy more stable and a federal rule to improve advice given to consumers about their investments, President Trump is showing he is prioritizing the wealthy and well-connected over working families.

  • WARNER ANNOUNCES OPPOSITION TO SCOTT PRUITT FOR EPA DIRECTOR

    WASHINGTON— U.S. Sen. Mark R. Warner (D-VA) released the following statement regarding the nomination of Oklahoma Attorney General Scott Pruitt as Administrator of the Environmental Protection Agency (EPA):

    “I cannot think of another nominee I’ve been asked to consider who has, over the course of a career, demonstrated more disdain for the work of the agency he seeks to lead than Mr. Pruitt. From opposing Chesapeake Bay cleanup, to denying the science of climate change, to filing more than a dozen lawsuits against the Environmental Protection Agency, Mr. Pruitt’s views and actions do not align with what once was a bipartisan national priority of protecting our nation’s air and water.

    “After a close review of his record, prior statements, and Committee testimony, I am convinced that Mr. Pruitt would use this position to undermine those goals. Virginia simply has too much at stake for Mr. Pruitt to become Administrator of the EPA. I will be voting against this nomination, and encouraging my colleagues to do the same.”

    Sen. Warner voted against the nominations of Betsy DeVos for Education Secretary, Jeff Sessions for Attorney General, and Tom Price for Health & Human Services Secretary, and has previously announced his opposition to Treasury Secretary nominee Steve Mnuchin, and Mick Mulvaney for OMB Director.

  • Sen. Mark Warner statement on Mnuchin confirmation:

    “It’s no secret that I have reservations about President Trump’s selection of Mr. Mnuchin, especially given the key role the Treasury Department plays in enforcing the Wall Street reforms in Dodd-Frank. Though I did not support this nomination, I intend to work with him on areas of agreement and press him to pursue responsible fiscal policy that protects taxpayers and the long-term health of our financial system.

    “President Trump campaigned on a pledge to rein in Wall Street. Mr. Mnuchin can demonstrate that the President is serious about keeping his promises by enforcing and upholding the central tenets of Wall Street reform, working in a bipartisan way with Congress to reform the housing finance system, and following through on his commitment to reform the tax code in a way that will reduce the burden on middle-class and working families rather than cutting taxes for the top one percent.

    “The American people will be watching.”