Jeb Hensarling facts for kids
Quick facts for kids
Jeb Hensarling
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| Member of the U.S. House of Representatives from Texas's 5th district |
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| In office January 3, 2003 – January 3, 2019 |
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| Preceded by | Pete Sessions |
| Succeeded by | Lance Gooden |
| Chair of the House Financial Services Committee | |
| In office January 3, 2013 – January 3, 2019 |
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| Preceded by | Spencer Bachus |
| Succeeded by | Maxine Waters |
| Chair of the House Republican Conference | |
| In office January 3, 2011 – January 3, 2013 |
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| Leader | John Boehner |
| Vice Chair | Cathy McMorris Rodgers |
| Preceded by | Mike Pence |
| Succeeded by | Cathy McMorris Rodgers |
| Personal details | |
| Born |
Thomas Jeb Hensarling
May 29, 1957 Stephenville, Texas, U.S. |
| Political party | Republican |
| Spouse | Melissa Hensarling |
| Children | 2 |
| Education | Texas A&M University (BA) University of Texas, Austin (JD) |
Thomas Jeb Hensarling (born May 29, 1957) is an American politician. He was a U.S. Representative for Texas's 5th congressional district from 2003 to 2019. As a member of the Republican Party, he held important leadership roles. He led the House Republican Conference from 2011 to 2013. Later, he chaired the House Financial Services Committee from 2013 until 2019. Hensarling was known for his strong belief in free market ideas. He played a key role in changing financial rules during the Trump presidency. He also helped shape economic policies in the House.
On October 31, 2017, Hensarling announced he would not run for reelection in 2018. In 2019, he joined UBS Group AG, a large financial company, as an executive. He left that position in 2023.
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Early Life and Education
Jeb Hensarling was born in Stephenville, Texas, on May 29, 1957. Stephenville is the main town of Erath County, Texas. He grew up on his family's farm in College Station, Texas. His father, Charles Andrew "Chase" Hensarling, was a U.S. Army officer. He also worked in the poultry business. Jeb has one brother, James, and a sister, Carolyn. He is a member of the Episcopal Church.
Like his father, Jeb Hensarling went to Texas A&M University. He earned a bachelor's degree in economics in 1979. In 1982, he received a law degree (Juris Doctor) from the University of Texas School of Law in Austin, Texas.
Political Journey
Before becoming a U.S. Representative, Hensarling worked for Texas Senator Phil Gramm. He was Gramm's State Director from 1985 to 1989. He also managed Gramm's reelection campaign in 1990. From 1991 to 1993, he was the executive director of the National Republican Senatorial Committee. This group helps elect Republican senators.
Hensarling then worked as a vice president at two companies. In 1996, he became the owner of San Jacinto Ventures. In 2001, he became the CEO of Family Support Assurance Corporation. He also served as vice president of Green Mountain Energy from 1999 to 2001.
Serving in Congress
Hensarling was first elected to Congress in 2002. He won against his Democratic opponent Ron Chapman. He was reelected several times, winning with strong support from voters. For example, in 2004, he won with 64% of the vote. In 2016, he won with 80% of the votes.
In 2005, an article called him the country's "budget nanny." This meant he focused on how the government spends money. He wanted Congress to decide how much money they could spend. Then, they should prioritize within those limits.
After the 2006 elections, Hensarling was chosen to lead the Republican Study Committee. This is a group of conservative Republican members of the House.
From 2011 to 2013, Hensarling was the chairman of the United States House of Representatives Republican Conference. This made him the fourth-highest-ranking Republican in the House. He also served on important panels. These included the Congressional Oversight Panel for the Troubled Asset Relief Program. He was also co-chair of the United States Congress Joint Select Committee on Deficit Reduction. This committee worked to reduce the national debt.
After the 2012 election, Hensarling became the chairman of the House Committee on Financial Services. This committee deals with banking, housing, and financial markets.
When Donald Trump was elected president, Hensarling was considered for Secretary of the Treasury. However, Steven Mnuchin got the job. Later, Hensarling became a critic of Trump's trade policies.
Key Laws and Policies
Jeb Hensarling helped pass over 80 bills into law. These laws were passed during his time as a committee chairman. One important law was the Economic Growth, Regulatory Relief, and Consumer Protection Act. This law changed parts of the Dodd–Frank Wall Street Reform and Consumer Protection Act. The Dodd-Frank Act was created to regulate the financial industry.
He also supported the JOBS 2.0 legislation. This law made it easier for new companies to get money to start and grow. His committee also passed the Foreign Investment Risk Review Modernization Act of 2018. This law updated how the government reviews foreign investments. This review checks for national security concerns.
Hensarling was against the Homeowner Flood Insurance Affordability Act of 2013. He believed this bill would delay important changes to the National Flood Insurance Program. He thought the program often underestimated flood risks. Hensarling was also a strong opponent of the Dodd–Frank Wall Street Reform and Consumer Protection Act.
Committee Work
Hensarling was a key member of several important committees:
- Committee on Financial Services (Chair): This committee oversees the financial industry.
- Subcommittee on Capital Markets, Insurance, and Government-Sponsored Enterprises
- Subcommittee on Financial Institutions and Consumer Credit
- Joint Select Committee on Deficit Reduction (Co-chair): This committee worked to reduce the national debt.
Voting and Views
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During his time in Congress, Hensarling had a very conservative voting record. He received a high rating from the American Conservative Union. This group tracks how conservative politicians are.
He served on the House Committee on the Budget. He also helped write a constitutional amendment called the Spending Limit Amendment. This amendment would stop federal spending from growing faster than the economy. Hensarling also wanted a one-year pause on all Congressional earmarks. Earmarks are special spending requests added to bills. He believed the process needed to be improved. In 2007, he introduced the Taxpayer Bill of Rights. He also co-authored the Taxpayer Choice Act.
He was a vocal critic of the Consumer Financial Protection Bureau (CFPB). This agency protects consumers in the financial market.
Views on the 2008 Financial Bailout
In September 2008, Hensarling was against the $700 billion financial bailout plan. This plan was proposed by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke. Hensarling urged caution before Congress approved the plan.
After voting against the bill, Hensarling shared his concerns. He worried that no one knew if the plan would truly work. He also feared the true cost to taxpayers. He believed it might reward bad behavior and punish good behavior. Hensarling was most worried that it would change the role of the government in the free market. He asked, "How can we have capitalism on the way up and socialism on the way down?" He feared that if the government always bailed out failing companies, it would hurt the ability to succeed.
After the House first voted against the bailout, the Dow Jones Industrial Average dropped significantly. The House later passed the bill in a second vote on October 3.
In November 2008, Hensarling was appointed to the five-member Congressional Oversight Panel. This panel watched over how the Emergency Economic Stabilization Act was put into action. He was the only member who disagreed with the panel's report on accountability for the bailout program.
House Leadership Roles
In 2008, Hensarling was considered for chairman of the Republican Conference. This was the third-highest position in the House Republican leadership. However, he supported his friend Mike Pence for the role.
After the 2010 elections, Republicans gained control of the House. Pence stepped down, and Hensarling became the Conference Chairman. This made him the fourth-ranking Republican leader. Hensarling left this leadership role after the 2012 elections. He then became the chairman of the House Financial Services Committee.
