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What to Watch: Rick Perry Gets Another Chance Rick Perry Changes Course on Gutting Energy Department
(about 5 hours later)
There is just one day to go before Inauguration Day and the cabinet nomination hearings roll on in Washington on Thursday, while other congressional business essentially halts. Hearings begin this morning for President-elect Donald J. Trump’s nominees to lead the Treasury and Energy Departments. Expect to hear a lot of contrition from the nominees for past comments.
■ Rick Perry, the former Texas governor, two-time Republican presidential candidate and one-time contestant on “Dancing With the Stars,” has been tapped by President-elect Donald J. Trump for energy secretary. He will appear before the Senate Energy Committee, and be introduced by Senator Joe Manchin III, Democrat of West Virginia. ■ Rick Perry, the former Texas governor, two-time Republican presidential candidate and one-time contestant on “Dancing With the Stars,” will say he now believes in human-caused climate change.
■ Steven T. Mnuchin, new to the world of politics but an experienced financier, appears before the Senate Finance Committee as Mr. Trump’s choice for Treasury secretary. ■ Steven T. Mnuchin, new to the world of politics but an experienced financier, appears before the Senate Finance Committee as Mr. Trump’s choice for Treasury secretary. He will have to defend his record of amassing millions in wealth during the housing crisis.
Here’s what to watch:Here’s what to watch:
As a presidential candidate, Mr. Perry was not always the smoothest operator on the campaign trail, fizzling and dropping out early during both runs. This morning, Rick Perry will make his case before the Senate Energy Committee that he is qualified to run the agency he vowed to abolish when running for president in 2012.
On Thursday, he will make his case to the Senate Committee on Energy and Natural Resources on why he should be the United States’ next energy secretary. While Mr. Perry has some experience in this realm from his time as the governor of oil-rich Texas, his selection for the cabinet position prompted skepticism. Critics point to his lack of expertise in areas such as nuclear science, given that the department oversees the nation’s nuclear arsenal. The former Texas governor will address his awkward history on the issue up front in his testimony. “My past statements made over five years ago about abolishing the Department of Energy do not reflect my current thinking,” he says in his prepared remarks, adding, “In fact, after being briefed on so many of the vital functions of the Department of Energy, I regret recommending its elimination.”
He will also face questions about his assertion in 2011 that he wanted to shutter the department. Mr. Perry will also acknowledge that he has changed his views about the established science of climate change, which, in his 2010 book, “Fed Up! Our Fight to Save America From Washington,” he called a “contrived, phony mess.”
Mr. Trump’s pick for Treasury secretary has become a top target for progressive groups that see the former Goldman Sachs banker as a ripe target for populist frustration at the rich. “I believe the climate is changing,” Mr. Perry will tell senators. “I believe some of it is naturally occurring, but some of it is also caused by man-made activity.”
Three groups have even launched a television commercial ahead of his hearing with the Senate Finance Committee on Thursday, painting him as a “foreclosure king” who made a fortune off the financial crisis. Perhaps more important, Mr. Perry will say how much he has learned about the department’s mission, most notably its oversight of the nation’s nuclear arsenal.
Such angst could be on display in the form of protests and tough questions from Democrats as to why the financier, who also has experience in Hollywood, should be tasked with steering the world’s largest economy. “This confirmation process has been extremely informative and beneficial for me,” Mr. Perry will say, noting his conversations with the current energy secretary, Ernest J. Moniz, a nuclear physicist who played a key role in negotiating the Iran nuclear weapons agreement.
Wall Street will also be watching Mr. Mnuchin’s testimony carefully, as his views on Fannie Mae and Freddie Mac, the bailed-out mortgage agencies, could have a substantial impact on the housing market. Mr. Mnuchin has previously signaled that they should be restructured and privatized. Mr. Mnuchin has heard the attacks on his record, and he arrived at his Senate nomination hearing prepared to defend against claims that made his riches as a financier by taking advantage of the misfortunes of the poor.
“Since I was first nominated to serve as Treasury secretary, I have been maligned as taking advantage of others’ hardships in order to earn a buck,” Mr. Mnuchin says in the prepared text of his remarks. “Nothing could be further from the truth.”
Democrats have assailed the former Goldman Sachs banker, who previously led OneWest Bank, saying he ran a foreclosure machine that targeted minorities. But on Thursday, Mr. Mnuchin said that he was committed to helping homeowners modify troubled loans and that, in fact, he was running a “loan-modification machine.”
Mr. Trump’s pick for Treasury has become a top target for progressive groups that see him as a ripe target for populist frustration at the rich.
Three groups have even aired a television commercial ahead of his hearing with the Senate Finance Committee on Thursday, painting him as a “foreclosure king” who made a fortune off the financial crisis.
The grilling got going early.
Before the potential Treasury secretary nominee had a chance to speak, Senator Ron Wyden, Democrat of Oregon, tore into his business résumé and painted him as a symbol of the banking industry’s worst practices.
“The Treasury secretary ought to be somebody who works on behalf of all Americans, including those who are still waiting for the economic recovery to show up in their communities,” Mr. Wyden said in opening remarks. “When I look at Mr. Mnuchin’s background, it’s a stretch to find evidence he’d be that kind of Treasury secretary.”
With that, Mr. Wyden thanked Mr. Mnuchin for his willingness to serve.
Democrats continue to complain that they are not being given enough time to question cabinet nominees.
President Obama’s signature health law may soon be repealed, but a group of Democratic senators is working feverishly to warn the public of the potential consequences of such a move.President Obama’s signature health law may soon be repealed, but a group of Democratic senators is working feverishly to warn the public of the potential consequences of such a move.
Senators including Elizabeth Warren, Patty Murray and Debbie Stabenow are convening a “forum to hear from Americans who would be hurt by health care repeal.” The gathering will include stories from people whose lives have been saved by the law.Senators including Elizabeth Warren, Patty Murray and Debbie Stabenow are convening a “forum to hear from Americans who would be hurt by health care repeal.” The gathering will include stories from people whose lives have been saved by the law.
House Democratic leaders are holding a 2:30 p.m. news conference about Republican plans to “Make America Sick Again.”House Democratic leaders are holding a 2:30 p.m. news conference about Republican plans to “Make America Sick Again.”
Besides the hearings and the news conference, the Capitol is expected to be relatively quiet before Friday’s festivities.
Decorators have been spotted festooning bunting around the rotunda in preparation for Mr. Trump’s swearing-in.