Newly Confirmed House Republican Committee Chairs Promise Oversight Hearings, ESG Scrutiny

The committee chairs for the 118th Congress in the U.S. House of Representatives were confirmed this week. 

The committees with jurisdiction over workplace issues that the Association will continue to engage with includes: 

• House Education and the Workforce with Chair Virginia Foxx (R-NC); 
• Energy and Commerce, with Chair Cathy McMorris Rodgers (R-WA); 
• Judiciary with Chair Jim Jordan (R-OH); 
• Ways and Means with Rep. Jason Smith (R-MO) as chair; and 
• Financial Services with Chair Patrick McHenry (R-NC).  

Oversight of Biden administration agenda: With Republican control of the U.S. House of Representatives, the respective committee chairs have promised to conduct oversight of the federal government agencies within their jurisdiction. This means we can expect the heads of the Department of Labor, the National Labor Relations Board, the Federal Trade Commission, the Securities and Exchange Commission, and Health and Human Services to spend a significant amount of time on Capitol Hill in the next two years justifying their regulatory agenda. 

Large companies may find themselves in the crosshairs: The House Ways and Means Committee Chair, Rep. Smith, is likely to focus on access to health care in rural America, telehealth, price transparency, health care security, innovation and “aggressive oversight”, including holding hearings about health care costs across the country. Chair Smith has also expressed an interest in using the tax code to penalize companies that offshore jobs, particularly in China.  In addition, members should expect the Republican majority to pursue anti-ESG legislative proposals and hearings where company representatives will be grilled for prioritizing ESG issues. In particular, the chair of the House Financial Services Committee, Rep. Patrick McHenry (R-NC) is already on record voicing concerns with ESG investing.  

Outlook: Senate committee chairs will be solidified next month.