NAICU Washington Update

Grassley Expected to Leave Senate Finance in 2011

May 11, 2009

Sen. Charles Grassley (R-Iowa) is expected to step down as ranking member of the Senate Finance Committee in 2011 to become ranking member of the Senate Judiciary Committee.  In his roles as chairman and ranking member of Finance, Grassley has been the driving force behind several investigations into the tax-exempt sector.

After his investigation of governance at American University, Grassley began paying close attention to broader college and university financing issues, including endowments, pricing, and executive compensation.  He's also been a strong supporter of higher education tax incentives such as IRC Sec. 127 employer-provided education assistance, Sec. 529 college savings plans, and the tuition deduction.

Grassley will vacate his Finance seat as part of a musical-chairs deal reached with Sen. Jeff Sessions (R-Ala.).  Sessions will assume the ranking post at the Senate Judiciary Committee - the seat to be vacated by Sen. Arlen Specter (R-Pa.) after he switched political parties.  Sessions then is expected to step down as ranking member of Judiciary in 2011, at which time Grassley will leave Finance to become the top Republican on the Judiciary Committee.

It's unclear whether non-profit financing and governance issues will remain a priority for the Finance Committee after Grassley's departure, and it's equally unclear just what legislative agenda he hopes to pursue at the Judiciary Committee.  Grassley has not yet issued a public statement on the matter.


MORE News from NAICU