Pat McHenry

The U.S. Government is run and controlled by Democrats. It is defined by dysfunction, incompetence, and fiscal irresponsibility.

The incompetence of the Rental Assistance Program, which Republicans have highlighted since March--there is no solution in sight.

Last December, Congress enacted the rental emergency assistance program in a bipartisan way.

The bill makes common-sense reforms to Treasury's rental assistance programs to get help to renters and landlords now.

Thank you, Madam Chairwoman, for holding today's hearing, and thank you for those encouraging words of outreach now that we are 5 months past when committee Republicans filed our bill, the Renter Protection Act.

To state the obvious, the Emergency Rental Assistance Program isn't working.

We should be looking at how we are better than China, how do we improve ourselves, how do we ensure that private sector innovation continues.

As Fed Chair Powell says, it is better for the U.S. to get a central bank digital currency right than to be first.

Congress must wrestle with this, and it is on us to legislate this into existence if that is the right thing to do.

The Federal Government is not innovative. It is not nimble. And it will not increase financial inclusion.

Today's hearing is another example of Democrats using the financial system to score points with progressive activists.

Rising material costs have added $36,000 to the price of a new home.

Washington has dramatically increased spending, and the Fed continues to push an aggressive monetary policy.

The CDC's moratorium on evictions has been found to be unconstitutional by two courts.

This is an absolute--it looks like complete mismanagement at this point, when you only have less than 4 percent of the money getting in the hands of renters.

You spent $800 million on overhead for this program to distribute just over $1 billion.

What action HUD is taking to make sure that we get help into the hands of these renters faster?

The last report says only 4 percent has gotten in the hands of renters. Do you dispute that?

We will follow up with you on that comment, because statutorily. you are required to publish the data about Emergency Rental Assistance (ERA).

According to the documents from Treasury, less than 4 percent of the money provided by Congress has reached eligible households.

Thank you, Madam Chairwoman. Thanks for holding today's hearing.

You have earned and deserve another term as Chair of the Federal Reserve.

Climate change is real.

I am hard-pressed to find a worse idea, frankly, than to federalize and, ultimately, socialize credit reporting in this country.

Nothing got done last Congress on this... because there is no willingness to have a bipartisan conversation.