National Republican Senatorial Committee Chairman (NRSC) John Cornyn (Texas) has tapped Sen. Orrin HatchOrrin Grant HatchFinance to hold hearing on ObamaCare repeal bill Overnight Finance: CBO to release limited analysis of ObamaCare repeal bill | DOJ investigates Equifax stock sales | House weighs tougher rules for banks dealing with North Korea Week ahead in finance: Clock ticking for GOP on tax reform MORE (Utah) to stay on as the NRSC's vice-chairman during the 2010 election cycle.

Hatch held the post under the NRSC's previous chairman, John Ensign (Nev.), and helped GOP candidates raise money even though the party ended up losing at least seven seats in November.

Cornyn explained the GOP's losses as simply "a tough year for Republicans," and that Hatch did "a great job."

"I look forward to working with him to elect more Republicans to the Senate to shape our nation