Monday, January 18, 2021

Pelosi Kicks Katie Porter Off The House Financial Services Committee

nakedcapitalism |  Katie Porter has been a star since being elected to Congress in 2018. Two years after narrowly ousting GOP incumbent Mimi Walters– 158,906 (52.1%) to 146,383 (47.9%)– the Republican Party was on the war-path in Orange County but not serious about taking on Porter. They defeated corporate conservative Democrats Harley Rouda and Gil Cisneros but never really got behind former Mission Viejo mayor Greg Raths, their candidate against Porter. The NRCC spent no money on Raths’ behalf and Porter beat him 221,843 (53.5%) to 193,096 (46.5%).

Several weeks ago, Porter was elected Deputy Chair of the Congressional Progressive Caucus. Having won two terms in Congress as a supporter of Medicare for All in a district where Republicans outnumber Democrats, she is best known for holding corporate special interests accountable and advocating for stronger worker protections. Her star shined brightly as a fierce questioner of banksters and government bureaucrats who came before the House Financial Services Committee.

On Thursday evening, I read that Pelosi has pushed her off the committee at the urging on the banksters, the Fed and Wall Street special interests. In a conversation with another member of the committee, an admirer of Porter’s, I was told that it was a combination of the Fed and Wall Street that demanded her removal. The member told me that “It is, in fact, a tragedy for that committee to lose someone like her. It’s a staff-run committee, with revolving-door staff… Also taking someone off a committee means they’re losing their committee seniority, which is very, very bad karma, since the whole system is built on that.”