Minority Press Releases
Scott: The Biden administration’s spending policies caused this economic pain.
Washington, D.C. - At today’s Senate Committee on Banking, Housing, and Urban Affairs hearing, Ranking Member Tim Scott (R-S.C.) pushed back against Democrats’ efforts to shift the blame for the economic hardships facing Americans across the country. Ranking Member Scott called out President Biden’s policies that have made almost every aspect of American life more challenging - for those living paycheck to paycheck trying to afford groceries, to families looking to buy a home or pay rent, to har… Continue Reading
April 23, 2024
Scott-Led Efforts to Crack Down on Fentanyl Trade, Expose Iranian Assets Pass Senate
Washington, D.C. - Today, Ranking Member Tim Scott’s (R-S.C.) legislative efforts to crack down on the illicit fentanyl supply chain and to expose high-value Iranian assets passed the Senate as part of the national security supplemental. Included in the supplemental package is Ranking Member Scott’s FEND Off Fentanyl Act, his sanctions and anti-money laundering bill to target the China-Mexico illicit fentanyl supply chain. The supplemental package also includes an important provision from his Re… Continue Reading
April 19, 2024
Support Grows for Scott’s Resolution to Overturn Radical Climate Disclosure Rule
Washington, D.C. - Ranking Member Tim Scott’s (R-S.C.) Congressional Review Act (CRA) resolution to overturn the Securities and Exchange Commission’s (SEC) burdensome climate disclosure rule continues to gain support across a wide-range of stakeholders, including the American Petroleum Institute, Heritage Action, Americans for Tax Reform, Americans for Prosperity, and the American Energy Alliance. Here's what they are saying: “From day one, this administration has advanced an all-of-government… Continue Reading
April 18, 2024
Scott on Housing in America: “The American Dream of homeownership is further out of reach today than it was just a few years ago.”
Washington, D.C. - As too many Americans struggle to afford rent and mortgage payments, and as homelessness rates reach record-high levels, the U.S. Senate Committee on Banking, Housing, and Urban Affairs today held a long-overdue hearing with U.S. Department of Housing and Urban Development (HUD) Acting Secretary Adrianne Todman and Federal Housing Finance Agency (FHFA) Director Sandra L. Thompson. Ranking Member Tim Scott (R-S.C.) has pushed for this hearing for over a year given the housing c… Continue Reading
April 17, 2024
Scott Leads Effort to Roll Back SEC’s Climate Disclosure Rule
Washington, D.C. - Ranking Member Tim Scott (R-S.C.) today introduced a Congressional Review Act (CRA) resolution to overturn the Securities and Exchange Commission’s (SEC) radical climate disclosure rule which would bury public companies in paperwork, raise costs for consumers, and stifle economic opportunity. Every Republican on the Senate Banking Committee, including Senators Mike Crapo (R-Idaho), Mike Rounds (R-S.D.), Thom Tillis (R-N.C.), John Kennedy (R-La.), Bill Hagerty (R-Tenn.), Cynth… Continue Reading
April 16, 2024
Scott Statement on House Passage of His Bill to Cement U.S. Sanctions on Iran
Washington, D.C. - Ranking Member Tim Scott (R-S.C.) issued the following statement after the U.S. House of Representatives passed his Solidify Iran Sanctions Act (SISA), by a vote of 407 to 16, to make permanent energy and weapons sanctions in the Iran Sanctions Act of 1996. The bill, if signed into law, would cement sanctions that restrict funding for Iran’s energy and weapons sectors, thereby curtailing the regime’s ability to finance terrorism and develop its nuclear program. “Today is an i… Continue Reading
April 16, 2024
Scott, Reed Lead Resolution Declaring April 2024 Financial Literacy Month
Washington, D.C. - Ranking Member Tim Scott (R-S.C.) and fellow member of the Senate Banking Committee, Senator Jack Reed (D-R.I.), are leading a resolution to declare April 2024 as Financial Literacy Month. The senators are co-chairs of the Financial Literacy Caucus. Recognized by the U.S. Senate since 2004, Financial Literacy Month is a national celebration of financial empowerment that raises awareness on the importance of financial education and providing resources to help Americans of all … Continue Reading
April 14, 2024
Scott Calls on Biden to Stand with Israel, Deny Funding to Iran
Washington, D.C. - In response to Iran’s attacks on Israel, Ranking Member Tim Scott (R-S.C.) called on the Biden administration to support Israel and reverse course on its appeasement of Iran. The Ranking Member has continued to push back on the Biden administration’s disturbing pattern of sanctions non-enforcement and sanctions relief to Iran, which have made funds more accessible for the Iranian regime and its terror proxies to attack U.S. servicemembers and our allies. “Let’s be clear: Pres… Continue Reading
April 12, 2024
Scott Calls on Treasury to Block Iran’s Access to Funds, Demands Accounting of High-Value Iranian Assets
Washington, D.C. - After U.S. Department of Treasury Deputy Secretary Wally Adeyemo admitted in testimony that any dollar Iran has access to funds terrorism, Ranking Member Tim Scott (R-S.C.) continues to press the Biden administration on U.S. enabled payments to Iran. In a letter to Treasury Secretary Janet Yellen, Ranking Member Scott requested an accounting of all international high-value Iranian assets around the world that are currently blocked by U.S. sanctions and to provide additional st… Continue Reading
April 9, 2024
Scott Calls for Decisive Action to Bolster National Security, Protect American Families
Washington, D.C. - Today, Ranking Member Tim Scott (R-S.C.) called on the Biden administration to take decisive action to bolster our national security and protect the safety of American families. During a Senate Committee on Banking, Housing, and Urban Affairs hearing with the U.S. Department of Treasury Deputy Secretary Wally Adeyemo, Ranking Member Scott pressed the Deputy Secretary on the Biden administration’s pattern of sanctions relief to adversarial nations that have hurt U.S. national s… Continue Reading
April 8, 2024
Scott Works to Overturn CFPB’s Credit Card Fee Rule
Washington, D.C. - Today, Ranking Member Tim Scott (R-S.C.) introduced a measure to overturn the Consumer Financial Protection Bureau’s (CFPB) rule capping credit card late penalties. Ranking Member Scott’s Congressional Review Act (CRA) resolution has the support of Republicans on the Senate Banking Committee and from members across the Republican conference. Senators John Thune (R-S.D.), John Barrasso (R-Wyo.), Jerry Moran (R-Kan.), John Boozman (R-Ark.), Steve Daines (R-Mont.), Mike Rounds (… Continue Reading
April 4, 2024
Following Release of Additional Iran Sanctions Waivers, Scott Leads Republicans in Demanding Transparency from Biden Administration
Washington, D.C. - In response to the Biden administration’s recent decision to release yet another Iran sanctions waiver, potentially worth billions of dollars, Ranking Member Tim Scott (R-S.C.) is continuing to lead efforts to hold the administration accountable and demand transparency for the American people on U.S. enabled payments to Iran, the leading state sponsor of terrorism. In a letter to Secretary of the Treasury Janet Yellen and Secretary of State Antony Blinken, 13 Republican Senato… Continue Reading
March 21, 2024
Citing Record Homelessness, Scott Condemns Biden Administration’s Housing Policies
Washington, D.C. - Following reports of the highest homelessness levels ever recorded, Ranking Member Tim Scott (R-S.C.) and seven Senate Banking Committee Republicans called out the Biden administration’s failure to address this growing problem. In a letter to the Secretary of the Department of Housing and Urban Development (HUD), the senators noted that while the agency has received record funding to combat homelessness, much of the money remains unspent, and pointed to the administration’s po… Continue Reading
March 12, 2024
Scott Calls for Action on Housing Legislation
Washington, D.C. - Nearly one year after the Senate Committee on Banking, Housing, and Urban Affairs held a similar hearing on housing legislation, Ranking Member Tim Scott (R-S.C.) today renewed his call for action on solutions to help more Americans access the American Dream of homeownership. Ranking Member Scott highlighted the challenges Americans face as a result of President Biden’s policies - including inflation, high interest rates, and burdensome regulations - that have made homeownersh… Continue Reading
March 11, 2024
Following Months of Silence, Scott Renews Demands for Information from FDIC
Washington, D.C. - Ranking Member Tim Scott (R-S.C.) is renewing his demands for information from the Federal Deposit Insurance Corporation (FDIC) regarding allegations of sexual harassment, discrimination, and other workplace misconduct at the agency. Last December, Ranking Member Scott led fellow Banking Committee Republicans in calling on FDIC Chairman Martin Gruenberg to provide detailed information regarding the recent allegations, and to resign as Chairman and Board Member. More than three… Continue Reading
March 7, 2024
Scott to Powell: For far too many, the American Dream seems further out of reach.
Washington, D.C. - During today’s U.S. Senate Committee on Banking, Housing, and Urban Affairs semi-annual hearing with Federal Reserve Chair Jerome Powell, Ranking Member Tim Scott (R-S.C.) highlighted the harsh economic reality that Americans across the country are still facing and urged the Chair to commit to transparency and accountability while deciding key economic policy. Ranking Member Scott called on the Federal Reserve to remain focused on economic priorities instead of political prio… Continue Reading
March 6, 2024
Scott Slams SEC’s Climate Disclosure Rule: “Federal overreach at its worst.”
Washington, D.C. - Ranking Member Tim Scott (R-S.C.), the top Republican on the Senate Committee on Banking, Housing, and Urban Affairs, today slammed the Securities and Exchange Commission’s (SEC) long-awaited climate disclosure rule - which exceeds the SEC’s scope of authority and will bury public companies in paperwork, raise costs for consumers, and stifle economic opportunity. Ranking Member Scott stated that he intends to use the Congressional Review Act process to fight the rule and its i… Continue Reading
March 5, 2024
Scott on CFPB Credit Card Late Penalty Final Rule
Washington, D.C. - Today, Ranking Member Tim Scott (R-S.C.) issued the following statement after the Consumer Financial Protection Bureau (CFPB) published their final rule to limit credit card penalties. Ranking Member Scott stated he would use the Congressional Review Act process to fight the rule and its implementation. “While lowering the cap on late penalties may sound like a good talking point, in practice it will decrease the availability of credit card products for those who need it most… Continue Reading
February 28, 2024
Scott: Supporting the American Dream for Black Americans Starts with Expanding Opportunity
Washington, D.C. - As a part of his efforts to bring awareness to Capitol Hill during Black History Month, Ranking Member Tim Scott (R-S.C.) today hosted a roundtable with Black investors and business founders to discuss ways to improve minority communities’ access to capital and the ability to build wealth. For photos of the event, click here. Click here or on the image above to watch Ranking Member Scott’s opening remarks. Click here for the full roundtable video. “As we celebrate Black H… Continue Reading
February 22, 2024
Scott Op-Ed in Fox Business: Let's Open Doors to Opportunity in U.S. Capital Markets
Washington, D.C. - U.S. Senator Tim Scott (R-S.C.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, authored the following op-ed in Fox Business, highlighting the barriers Black Americans face in accessing the capital required to start and build businesses. The Ranking Member outlined the Empowering Main Street in America Act, his legislative framework that would open doors for underserved communities by streamlining access to funding through the U.S. capital marke… Continue Reading
