01/04/2018

Senator Orrin Hatch Exit Triggers Race for Senate Finance Gavel

Hatch recently helped enact the first major overhaul of the tax code since 1986

Sen. Orrin Hatch’s (R-UT) retirement frees up a coveted post as chairman of the Senate Finance Committee, which has jurisdiction over issues impacting the tax-exempt community. Hatch, who earlier this week announced his decision to step down at the end of 2018, recently helped enact the first major overhaul of the tax code since 1986. Hatch’s decision has already set off speculation about who will helm the finance panel after he departs.

POLITICO reported this week that Senate Judiciary Committee Chairman Chuck Grassley (R-IA) could return as chairman of Senate Finance if the GOP maintains its majority in the 2018 elections. Grassley chaired Senate Finance from 2003 to 2006 and then, after Democrats took control of the Senate, served six more years as the ranking Republican. Senate Republicans limit their members to six years in the chair and ranking slots of any committee so Grassley still has two years of chairman eligibility remaining when it comes to the Finance Committee.

Should Grassley decide he would rather stay atop the Judiciary Committee, the next Republican in line is likely Sen. Mike Crapo (R-ID), who currently chairs the Senate Banking Committee.

This article was provided to OSAE by the Power of A and ASAE's Inroads.