Senate Banking Committee Chairman Sherrod Brown Loses Reelection as Senate Flips to Republican Control
Bernie Moreno, Republican car salesman and entrepreneur, has defeated incumbent Senator Sherrod Brown (D-Ohio), the chair of the Senate Banking Committee, who is completing his third term. Moreno was propelled to victory largely due to former President (and current president-elect) Donald Trump’s strong performance at the top of the ticket and a massive amount of spending by the cryptocurrency industry and other groups against Brown in the election.
Though Republicans ultimately defeated Brown and regained control of the Senate, the poll tracking website FiveThirtyEight showed Brown with a steady 2.5 to 3-point lead until the race began to tighten in mid-October. An Emerson College Polling survey of 900 likely voters conducted from October 30 to November 2 showed Moreno leading 48 percent to Brown at 45 percent, according to The Hill.
Brown has served as chair of the Senate Committee on Banking, Housing, and Urban Affairs since February 2021. With the Senate flipping to Republican control, Sen. Tim Scott (R-S.C.) is expected to assume the chairmanship when the 119th Congress convenes in January. With Jon Tester (D-Mont.), another Banking Committee Democrat, also losing his reelection, the top Democratic spot on the Committee is expected to go to Sen. Elizabeth Warren (D-Mass.). Two other Democratic senators, Jack Reed (D-R.I.) and Mark Warner (D-Va.) have seniority and could leapfrog Warren if they desired, but are expected to assume the Ranking Member role on other committees instead.
Democrats consistently criticized Moreno for his stance on abortion rights, noting that in 2022 he said he was “absolutely pro-life, no exceptions.” He later softened his position and said he supported “commonsense restrictions” on abortion after 15 weeks of pregnancy, and argued that the issue should mostly be left up to the states.
Senator Brown sought to draw a clear contrast in 2023, highlighting his support for a state constitutional amendment that would ensure access to abortion and other reproductive health care, which passed with 57 percent support.
Brown focused on his own brand this campaign season, distancing himself from the Biden-Harris administration. In recent years he has been an outspoken advocate for expanding affordable housing and addressing the spread of fentanyl addiction.
However. Moreno gained momentum by hammering Brown on inflation, crime, and migration at the U.S.-Mexico border. He also gained name recognition from political ads and campaign appearances.
