HFSC Chairman McHenry Announces He Will Retire At the End of This Term

Dec 12, 2023Congressional Legislation, News

House Financial Services Committee (HFSC) Chairman Patrick McHenry (R-N.C.) recently announced that he will not seek re-election to the House, choosing instead to retire at the end of his current term. McHenry was first elected to the seat in 2004, and this year served as interim Speaker for three weeks after former Speaker Kevin McCarthy (R-Calif.) was unseated and lawmakers struggled to find a replacement.

“Past, present, and future, the House of Representatives is the center of our American republic,” McHenry said in his statement. “Through good and bad, during the highest of days and the lowest, and from proud to infamous times, the House is the venue for our nation’s disagreements bound up in our hopes for a better tomorrow.”

McHenry rose to the top of the chamber when he served as interim Speaker, and was first on a list of replacements provided by McCarthy. After the September 11, 2011 terrorist attack, the Speaker became required to submit a list of replacements to ensure continuity of government. 

According to The Hill, McHenry said in October that he would run for re-election in the state’s 10th Congressional District, a safe Republican stronghold. Both Democratic and Republican lawmakers pushed for McHenry to be Speaker, but he said that his only role was to preside over the election of a new Speaker.

During his time as Chairman of the House Financial Services Committee, McHenry played a significant role in negotiations over the debt ceiling, which resulted in a deal between McCarthy and President Biden to increase the borrowing limit. Axios also noted that he served as House Majority Leader Steve Scalise’s chief deputy whip, overseeing the whip’s duties while he recovered from injuries. 

“Whether it’s 1974, 1994, or 2010, we’ve seen the House evolve over time. Evolutions are often lumpy and disjointed, but at each stage, new leaders emerge. There are many smart and capable members who remain, and others are on their way. I’m confident the House is in good hands,” McHenry concluded. 

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