WASHINGTON—U.S. Senate Finance Committee will hold a hearing next week to consider the nomination of Kenneth Kies to be an assistant secretary of the Treasury, the Senate Finance Committee announced.
The hearing will also consider the nomination of William Kimmitt to be Under Secretary of Commerce for International Trade.
The hearing will take place Thursday, April 10, at10:00 a.m. ET.
Kies’ nomination has sparked concerns from the Defense Credit Union Council, which Tuesday expressed its reservations about Kies’ nomination to the Senate Finance Committee.
Given Kies’ history of advocating for the repeal of credit unions' tax-exempt status, DCUC, in a letter to the committee, urged the committee to question him on his stance and seek a public commitment that he will not pursue policies that would undermine credit unions' mission. See related story.
As CUToday.info reported, just over ten years ago Kies co-authored a seven-page report for Deloitte that advocated the repeal of the federal tax-exempt status for credit unions of all sizes.
“The importance of DCUC sending its letter this week to the Senate Finance Committee with concerns about Kies’ nomination on behalf of all credit unions is very clear,” DCUC Chief Advocacy Officer Jason Stverak told CUToday.info. “We look forward to senators asking Mr. Kies if he still believes credit unions’ tax status should be eliminated. It’s an answer to a question over 140 million members of credit unions all across this country deserve.”
Witness testimony, opening statements and a live video of the hearing will be available on www.finance.senate.gov. An additional live video will be streamed on https://x.com/MikeCrapo.