House Republican leaders on Thursday elected Rep. French Hill (R-Ark.) to lead the House Financial Services Committee in the 119th Congress and Rep. Tim Walberg (R-Mich.) to chair the House Education and Workforce Committee their selection for committee chairs.
Hill was chosen to lead the Financial Services Board ahead of Reps. Andy Barr (R-Ky.), Frank Lucas (R-Okla.) and Bill Huizenga (R-Mich.), two sources in the executive boardroom said the decision was made. Hill won on the second ballot after Lucas dropped out on the first ballot, a source said.
The powerful Financial Services Committee oversees the Federal Reserve, Wall Street and cryptocurrency – a key area of interest for the modern Trump administration. Hill has become known as a well-read source on cryptocurrencies kept an account to regulate digital assets.
The current chairman of the House Financial Services Committee, Rep. Patrick McHenry (R-N.C.), was term-limited and is leaving Congress at the end of the year.
Hill’s victory may come as a surprise to some members. Barr was considered a powerful contender with a close relationship with House Majority Leader Steve Scalise (R-La.) and other leaders who made the decision, and Hill’s close relationship with former Speaker Kevin McCarthy (R-Calif.) was considered one considered a potential challenge in securing the hammer.
Barr congratulated Hill about the victory in a post on the social platform X.
According to a source, Walberg won the gavel over Rep. Burgess Owens (R-Utah), who was also vying for the position. Outgoing chairwoman Virginia Foxx (R-N.C.) is completing her fourth term on the board and has not requested a waiver to continue leading the board.
Walberg continued to be one of the oldest members of the committee. His top priorities in the modern Congress include supporting parental rights, combating anti-Semitism and anti-Americanism on campus, and updating the Family Educational Rights and Privacy Act.
The committee will play a role in House Republicans’ partisan reconciliation legislation that they hope to push through Congress to Trump’s desk, given plans to address student loan problems.
The selection is made by the House GOP Steering Committee, a panel of about 30 House GOP lawmakers that includes elected leaders and regional representatives. Their decisions are formally ratified by the House Republican Conference and the full House, a process that is generally uncontroversial.
One remaining unknown position is that of the House Rules Committee. Speaker Mike Johnson (R-La.) has sole authority to appoint the chair of this body. The current chairman, Rep. Michael Burgess (R-Texas), is retiring from Congress.
Rep. Sam Graves (R-Mo.) will also retain his position leading the House Transportation and Infrastructure Committee. Last week, Graves was granted a waiver from the House GOP’s term limits rule by the steering committee to seek a fourth term in the stop-GOP slot, a decision that surprised some lawmakers.
Rep. Rick Crawford (R-Ark.) had sought the gavel on transportation and infrastructure but withdrew his name from consideration Tuesday. In a statement, Crawford said the “decision is in the best interests of the conference and will promote unity within our ranks” and that he will “play a leading role” in crafting an “America First Surface Transportation Act” by September 2026. ”
The panel of GOP leaders selected executives several other open chairs earlier this week.
In the most surprising decision for lawmakers in the Capitol, Rep. Brian Mast (R-Florida) was elected chairman of the House Foreign Affairs Committee, beating out three other senior Republicans.
Rep. Brett Guthrie (R-Ky.) will chair the powerful House Energy and Commerce Committee.
And Rep. Brian Babin (R-Texas) will chair the House Science, Space and Technology Committee.
Mychael Schnell contributed. Updated at 5:05 p.m
