Department of the Treasury Nominations

Floor Speech

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Mr. GRASSLEY. Mr. President, today, I placed a hold on three Department of the Treasury nominees. The nominees are Brian Morrissey, Jr., of Virginia, to be General Counsel for the Department of the Treasury; Francis Brooke, of Virginia, to be an Assistant Secretary of the Treasury; and Jonathan McKernan, of Tennessee, to be an Under Secretary of the Treasury.

During consideration of the One Big Beautiful Bill Act, I worked with my colleagues to provide wind and solar an appropriate glidepath for the orderly phase-out of the tax credits. Ultimately, Congress enshrined in statute a 12-month transition period based on when projects ``begin construction.''

What it means for a project to ``begin construction'' has been well established by Treasury guidance for more than a decade. Moreover, Congress specifically references current Treasury guidance to set that term's meaning in law. This is a case where both the law and congressional intent are clear.

The Department of the Treasury is expected to issue rules and regulations implementing the agreed upon phase-out of the wind and solar credits by August 18, 2025.

Until I can be certain that such rules and regulations adhere to the law and congressional intent, I intend to continue to object to the consideration of these Treasury nominees.

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