Udall Named Chairman of Financial Services Appropriations Subcommittee
WASHINGTON - U.S. Senator Tom Udall has been named the Chairman of the Senate Appropriations Financial Services and General Government Subcommittee, his office announced today.
Udall was named the new Chairman by Senator Barbara Mikulski (D-Md.), Chairwoman of the full Appropriations Committee. He succeeds Senator Frank Lautenberg (D-N.J.), who passed away on June 3, 2013.
"As Chairman I look forward to the responsibility of ensuring taxpayers dollars are spent wisely and the interests of hardworking families in New Mexico are protected," Udall said. "I am honored to build on the leadership of the previous Chairmen Senators Lautenberg and Durbin and will work hard to support small businesses, expand rural broadband, protect consumers and ensure the safety of our financial markets."
The Subcommittee recommends and oversees annual funding for financial-related agencies including the U.S. Department of Treasury, the Securities and Exchange Commission (SEC) and the Internal Revenue Service. It also has jurisdiction over several key agencies that have a direct impact on New Mexico, including:
- The Small Business Administration (SBA), which supports entrepreneurs and small businesses with outreach and loans, and also provides loans following federally-declared disasters.
- The Federal Communications Commission (FCC), which has jurisdiction over telecommunications and broadband matters.
- The Federal Trade Commission (FTC), which helps ensure competition in broad sectors of the economy and helps protect consumers from false advertising and business practices.
- The Office of National Drug Control Policy (ONDCP), which provides funding for High Intensity Drug Trafficking Areas nationwide and to New Mexico.
- The Federal Election Commission (FEC), with jurisdiction over federal campaign finance laws.
- The General Services Administration (GSA), which manages federal properties in New Mexico and around the nation.
Click here for a detailed jurisdiction list.