Hensarling keeps Financial Services gavel

Rep. Jeb HensarlingThomas (Jeb) Jeb HensarlingLawmakers battle over future of Ex-Im Bank House passes Ex-Im Bank reboot bill opposed by White House, McConnell Has Congress lost the ability or the will to pass a unanimous bipartisan small business bill? MORE (R-Texas) will stay on as chairman of the House Financial Services Committee. 

The Republican Steering Committee on Tuesday reappointed Hensarling, who has proven himself an ally to the Tea party on key financial issues.

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There were some rumblings that Hensarling would face a challenge from Rep. Frank LucasFrank Dean LucasHillicon Valley: Amazon to challenge Pentagon cloud contract in court | State antitrust investigation into Google expands | Intel agencies no longer collecting location data without warrant Bipartisan bill to secure election tech advances to House floor Hillicon Valley: Doctors press tech to crack down on anti-vax content | Facebook, Instagram suffer widespread outages | Spotify hits Apple with antitrust complaint | FCC rejects calls to delay 5G auction MORE (R-Okla.).

Hensarling has bucked the business community in his time as chairman, most notably on issues like the reauthorization of the Export-Import Bank and Congress’s terrorism insurance program (TRIA). 

He has argued that such programs — traditionally bipartisan issues with broad support in Congress — put taxpayers at risk and benefit only a few.