▶ 0:18:13Chairman Scott: The committee will be called to order. I would like to begin by extending a warm welcome to the five nominees before us today. Thank you each for your willingness to serve our country and take on some really important roles to move the economy forward. We recognize the personal and professional sacrifices that public service often entails in we are grateful for your time, energy, and expertise at a pivotal moment in our economy and for a medic -- american competitiveness around the world.
▶ 0:18:41Chairman Scott: This hearing is focused on a new group of well-qualified individuals whose leadership will be central to advancing the trump progrowth pro-america economy. This agenda is built on expanding opportunity, promoting investment, and putting american workers first. Each of these positions under consideration today is essential to that mission.
▶ 0:19:04Chairman Scott: From enforcing export laws and revitalizing our trade policy to improving housing access and bolstering financial stability, these nominees are being entrusted with responsibilities that affect millions of americans daily lives and livelihoods. Let's begin. We have two hot nominees before us today. Mr. trainor and demarzo.
▶ 0:19:36Chairman Scott: You will each serve if confirmed in roles essential to the hud mission. Mr. demarzo, you will be ensuring that hud remains responsible to the american people by sponsoring strong partnerships across all levels of government. Mr. traynor, you are charged with safeguarding the principles of fair housing and make sure that in -- every american regardless of housing -- regardless of zip code has a fair shot at the american dream.
▶ 0:20:08Chairman Scott: Like my mother, who raised me and my brother, or a veteran coming home to rebuild his life, americans are looking for leadership that not only understands their needs but also acts accordingly. Should you be confirmed, the work before you will be challenging, but it carries a profound purpose. Your efforts will not only touch lives, individual lives, but will help to shave the stronger and more responsive housing system for generations to come.
▶ 0:20:39Chairman Scott: Mr. jovanovic? >> Mr. jovanovic: >> Mr. jovanovic, senator.
▶ 0:20:46Chairman Scott: Thank you. As the nominee to lead the export import, you step forward during a real-time of consequences we face fierce competition from china and other state backed companies who don't always play by the rules. It's a vital tool for making sure that U.S. businesses compete and win on a level playing field. Mr. broke up, got that right, at the treasury department you would be tasked with representing U.S.
▶ 0:21:16Chairman Scott: Financial institutions abroad, including securing fair international trade and investment deals and leveraging relationships with multilateral development banks to grow U.S. leadership in the global economy. Finally, Mr. peters, your role at the department of commerce will help to secure american innovation.
▶ 0:21:36Chairman Scott: From manufacturing semi conductors to emerging technologies that will define the 21st century economy, we will enforce our expert control laws and bring violators to justice. Each of you brings a strong track record of public service and private sector experience. Just as important, you have a clear understanding of the mission at hand. The stakes are high in the american people deserve a team that is ready to go to work. I now recognize ranking member warren.
▶ 0:22:06Sen. Warren: Thank you, Mr. chairman. We have five nominees for four different agencies, so I will jump right in and get to the point. Starting with housing, the president ran for office on a big promise of the american people, bringing down the cost-of-living. He has not fulfilled it particularly when it comes to housing. His chaotic tariff policy has created uncertainty for homebuilders, homebuyers, and renters.
▶ 0:22:35Sen. Warren: Tariffs have increased the costs of lumber, steel, and everything else needed to build or fix up the house. Since the tariffs begin to kick into effect in march, interest rates on mortgages have gone up by nearly a quarter of a point. For the average family buying a new home, that means about $600 per year in extra costs. The costs keep piling up. Home insurance rates are going through the roof.
▶ 0:23:04Sen. Warren: Last week "the wall street journal" reported energy bills will go up by 4% compared with last summer. The last thing that americans need is for the trump administration to make housing even more expensive, but that is exactly what the trump administration is doing. The president possible budget proposal calls for the complete elimination of federal programs to help communities build new housing.
▶ 0:23:30Sen. Warren: It calls for tens of billions in dollars of cuts to federal housing investments. Meanwhile, the president's big beautiful bill allows companies to continue jacking up the rent using illegal ai schemes. All of this while the administration begins to trickle out plans to re privatized fannie mae and fannie mae -- freddie mae and freddie mac, the enterprises created to provide liquidity and stability to the mortgage market.
▶ 0:24:02Sen. Warren: This is an effort that seems designed to reward the trump billionaire friends, even as economists tell us it will push mortgage rates for families even higher. It is one disaster after another for homeowners in four renters. And now, if Mr.
▶ 0:24:19Sen. Warren: Traynor is confirmed as the hud assistant secretary for fair housing and equal opportunity, he would be responsible for enforcing national housing antidiscrimination laws. Already, bad actors accused of discrimination are literally walking away from legal negotiations because they know the trump administration will do nothing to stop them. We know the record of Mr.
▶ 0:24:48Sen. Warren: Trainor, he has led the department efforts to declare diversity, equity, and inclusion unlawful, pausing civil rights investigations. I am concerned that he intends to bring that same hostile approach to hud. Next, I want to turn my attention to Mr. peters, the nominee to be the commerce department assistant secretary of expert enforcement in the bureau of industry and security. It is a critical national security job.
▶ 0:25:17Sen. Warren: You would be responsible for enforcing our national export control laws and making sure that our adversaries cannot get a hold of our cutting edge chips and other critical technologies. I am worried that by the time you get there, Mr. peters, your job will be to close the barn door after the horse has escaped.
▶ 0:25:38Sen. Warren: Again and again, the president and his gang of silicon valley tech pros have made questionable deals that make our national security week. It needs to be cleaned up and I hope, Mr. peters, you are up to the job. I will have questions for the record for our other witnesses. Mr.
▶ 0:26:03Sen. Warren: Jovanovic, the export import that you lead, that you would lead, has escaped years of attacks trying to kill the agency. It has just barely escaped. I want to hear how we can reform it to better help american small businesses sell their products abroad, especially amid the trump trade war. Mr.
▶ 0:26:28Sen. Warren: Brooke, I want to hear if you will give the president honest advice for his, that his on-again, off-again, on-again, off-again tariffs are hurting american businesses and families.
▶ 0:26:42Mr. Peters: -- Mr. brooke: -- Mr. demarzo, I will need your commitment to giving timely responses to me and my staff on the banking committee so that we can get the information we need from hud. Mr. chairman, that ends my opening remarks.
▶ 0:27:00Chairman Scott: Thank you. We will now swear in the nominees, if you will please stand and raise your right hand. Do you swear or affirm that the testimony you are about to give is the truth, the whole truth, and nothing but the truth, so help you god? Do you agree to testify before any duly constituted committee of the senate? You may take your seats. Thank you.
▶ 0:27:29Chairman Scott: Your witness statements will be made a part of the record in their entirety. Please keep your oral comments to five minutes. Mr. demarzo, you are now recognized.
▶ 0:27:39Mr. Demarzo: Thank you, chairman scott, ranking member warren, and members of the committee. I would like to thank president trump for nominating me for this cap position and secretary turner for his support and leadership. I would also like to thank my wife britt for her support and our son elliott, who just celebrated his first birthday. He is very happy to be here. The role of hud's office of congressional and intergovernmental relations is to serve as hud's primary liaison for federal, state, and local officials.
▶ 0:28:08Mr. Demarzo: If I am privileged enough to be confirmed, my goal will be to provide support for congressional offices by helping you resolve issues for your local officials and constituents. I received my master's degree in public policy from rutgers university in 2011, and I have spent the past fourteen years working for state and federal officials. I most recently served as chief of staff for a member of the U.S. house of representatives, where I was on the requesting side of assistance from hud and other federal agencies.
▶ 0:28:38Mr. Demarzo: I saw firsthand the importance of being able to provide answers and guidance from federal agencies for our mayors, county officials, and state representatives. I was very appreciative of the knowledgeable and responsive staff in the congressional affairs offices I worked with during my time in the house. I served all four years during the last trump administration at hud, and I plan to serve all four years of this administration at hud because I am passionate about providing support for state, local, and tribal officials.
▶ 0:29:07Mr. Demarzo: I enjoyed traveling with secretary carson to 36 states to meet mayors, housing authority leaders, state officials, and the residents hud serves. I look forward to continuing that service under secretary scott turner, who is passionate about the mission of hud. In my prior service at hud, I was fortunate to develop great working relationships with leaders in hud's program offices. If confirmed, my goal will be to problem-solve and cut through red tape to ensure that your local officials receive the answers they need from hud.
▶ 0:29:38Mr. Demarzo: My top priorities will be constituent services, technical assistance on legislation, and open communication between the department and your offices.