Watt's FHFA Bid Moves Ahead in Senate
Senate Majority Leader Harry Reid (D-Nev.) has moved forward with the confirmation of Rep. Mel Watt (D-N.C.), President Obama’s choice as director of the Federal Housing Finance Agency.
Reid filed a motion to invoke cloture on Watt’s confirmation on Monday. The motion was added to Tuesday’s Senate executive calendar.
The North Carolina Democrat needs 60 votes for his confirmation to proceed to a final vote in the Senate.
Edward DeMarco has been serving as acting director.
Senate Banking Committee Chairman Tim Johnson (D-S.D.) expressed support for Watt after cloture was filed on his nomination as the head of the FHFA.
“There is no legitimate reason Mel Watt should not be confirmed as the director of the Federal Housing Finance Agency, and I look forward to the Senate vote on his nomination later this week. It is important to fill this role as soon as we can, so the agency can fully assist in helping stabilize the housing market as our economy continues to recover from the financial crisis,” said Johnson in a statement.
“Mel’s decades of experience with housing finance policy, and his proven ability to get results by working with colleagues, consumer advocates and industry leaders make him an ideal pick to lead the FHFA,” Johnson added.