Scott Garrett

Scott Garrett

NEW JERSEY's 5th DISTRICT

Garrett Leads Letter to IRS Commissioner on Religious Freedom

2014/08/25

WASHINGTON, D.C. – Rep. Scott Garrett (R-NJ), Chairman of the Congressional Constitution Caucus, along with eight of his colleagues sent a letter to IRS Commissioner John Koskinen today.  The letter outlines the deep concerns the Members have about news of the recent IRS dismissal agreement with the Freedom from Religion Foundation.  Additionally, the Members request answers to the following questions: Provide a copy of any agreement between the IRS and the Freedom from Religion Foundation. Provide any communications between the IRS and the Freedom from Religion Foundation regarding dismissal of the case. Why did the IRS agree to dismiss this case without prejudice when it recently won a nearly identical case, and who was the highest ranking official to sign off on the settlement? How have the IRS regulations in this area changed since the 2009 ruling in U.S. v Living Word Christian Ctr., which deemed them unlawful? How is the IRS going to enforce the Johnson Amendment without impinging on the First Amendment freedoms of religious leaders? Other than self-referral by leaders opposed to the Johnson Amendment, how did the IRS find the 99 religious organizations currently under investigation by the “Political Activities Referral Committee,” and how did they decide these organizations merited the use of precious investigative resources? How much money has been spent by the Political Activities Referral Committee in each of the last fiscal years since 2009? How much has been spent in total investigating the 99 organizations currently under investigation? What safeguards are in place to make sure that the IRS does not stifle protected First Amendment speech? To view the complete letter, click here. ### Read More

Fifth District Mobile Constituent Service Office Hours – August 2014

2014/08/11

Glen Rock, NJ – Congressman Garrett’s Fifth District STAFF will be available at the following locations during the month of August: August 11, 2014 Mahwah: 1:00pm to 3:00pm Mahwah Senior Center 475 Corporate Drive Mahwah, NJ Hackensack: 11:45am to 2:00pm The Logan Center 274 Central Avenue Hackensack, NJ August 14, 2014 Montvale: 1:00pm to 3:00pm Borough Hall 12 Mercedes Drive Montvale, NJ August 19, 2014 Westwood: 1:00pm to 2:30 pm Borough Hall 101 Washington Avenue Westwood, NJ August 20, 2014 Vernon: 11:00am to 1:00pm Senior Center 21 Church Street Vernon, NJ ### Read More

Garrett Statement on Today's Financial Stability Oversight Council Meeting

2014/07/31

WASHINGTON, D.C. – Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, issued the following statement regarding today’s closed-door Financial Stability Oversight Council Meeting: “Unfortunately, but not surprisingly, the unaccountable FSOC continues to lay the groundwork for additional designations without any necessary reforms.  If and when the FSOC designates another company, I look forward to having each individual FSOC member testify before the Committee to explain why they are moving forward without addressing any of our bipartisan concerns.” ### Read More

Financial Services Committee Passes Huizenga-Garrett Fed Bill

2014/07/30

WASHINGTON, D.C. – Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, issued the following statement today after the House Financial Services Committee passed the Federal Reserve Accountability and Transparency (FRAT) Act by a vote of 32 to 26: “Today, we took important steps toward establishing a more appropriate level of transparency at the Fed.  As things stand now, the Fed’s regulatory activities take place behind a fraternity-like veil of secrecy, obstructing openness, and preventing proper accountability.  And when it comes to monetary policy, like the Wizard of Oz, it’s time we bring the Fed out from behind the curtain.  Now that the Financial Services Committee has acted, I look forward to continuing to work with Chairman Hensarling and House Leadership to ensure that this bill passes both chambers and is quickly advanced to the president's desk.” The bill requires the Federal Reserve to conduct cost-benefit analysis when it adopts new rules. The bill enhances the Federal Reserve’s accountability to Congress in the conduct of regulatory policy and requires transparency about the Federal Reserve’s bank stress tests and about international financial regulatory negotiations conducted by the Federal Reserve, the Treasury Department, and the Federal Deposit Insurance Corporation. The legislation further requires the Federal Reserve to disclose the salaries of highly paid employees and requires those employees to abide by the same ethical requirements as other federal financial regulators. Text of H.R. 5018 can be found here and a section by section analysis of the legislation is available here. ### Read More

Garrett Statement on Fourth Anniversary of Dodd-Frank

2014/07/21

WASHINGTON, D.C. – Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, issued the following statement today to mark the four year anniversary of the Dodd-Frank Act: “It’s been four years since President Obama signed Dodd-Frank into law and our economy's anemic growth since that time is just one example of why it is ineffective. In addition to holding back the economy, Dodd-Frank also puts unsuspecting American taxpayers on the hook for endless Wall Street bailouts. The sad news is that the consequences of this heavy-handed law continue to creep into every U.S. industry. Now more than ever, we need solutions that address the real issues behind the 2008 financial collapse, protect taxpayers, and ensure that the U.S. continues to have the most robust capital markets in the world.”     ### Read More

Rep. Garrett’s Statement on Fallen Waldwick Police Officer Christopher Goodell

2014/07/17

WASHINGTON, D.C. – Rep. Scott Garrett issued the following statement upon hearing the tragic news of an accident that took the life of Waldwick police officer and United States Marine Corps veteran Christopher Goodell: “I was deeply saddened this morning to hear the tragic news of the accident that took the life of Waldwick police officer and United States Marine Corps veteran Christopher Goodell.  As both a law enforcement officer and marine, Officer Goodell displayed a deep dedication to his country and his community. Public service is a calling, and answering that call is truly a virtue. My thoughts and prayers are with Officer Goodell’s family, friends, and the Waldwick community as they mourn the loss of one of their bravest sons.”     ### Read More

House Passes Garrett Amendment to Financial Services Appropriations Bill

2014/07/16

WASHINGTON, D.C. – Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, issued the following statement today after the passage of the FY2015 Financial Services and General Government (FSGG) Appropriations Bill, H.R. 5016, which included his amendment to ensure that non-bank financial institutions cannot be designated as Systemically Important Financial Institutions (SIFI) by the Financial Stability Oversight Council (FSOC). “With every reckless designation of a non-bank company as a SIFI, FSOC makes our economy more dangerous and unstable.  FSOC is not working out as intended, so I’m glad to see that the House adopted my amendment today.  We must prevent government regulators from expanding the doctrine of too-big-to-fail into other parts of our economy.  And we must not allow too-big-to-fail to take root in the non-bank financial sector.  These companies are too important as a counterbalance to the mega-banks for us to ruin them with crony capitalism.” Rep. Garrett’s amendment would prohibit the Secretary of the Treasury and the Chair of the Securities and Exchange Commission (SEC), in their roles as members of the FSOC, from designating non-bank financial companies as SIFIs. The FSOC, as created under the Dodd-Frank Act, has the ability to label non-banking financial companies as systemically important and has essentially codified an endless cycle of too-big-to-fail.   ### Read More

Rep. Garrett Calls for Retraction from White House Over Recent Comments about Israel’s Commitment to Peace

2014/07/10

WASHINGTON, D.C. – Rep. Scott Garrett (NJ-05) is calling for a retraction of comments by top White House official Philip Gordon, Special Assistant to the President and White House Coordinator for the Middle East, North Africa, and the Gulf Region.  In a recent foreign policy address, Gordon questioned Israel’s commitment to peace by saying: “How can Israel have peace if it’s unwilling to delineate a border [and] end the occupation…?” “The Obama administration should immediately repudiate Mr. Gordon’s comments.  As Israel defends itself against countless rocket attacks from Hamas, it shouldn’t also have to defend itself against those in the White House.  While the Obama administration says it supports Israel, these comments obviously stand in stark contrast to that commitment and must be retracted.  My heart goes out to those who have been the victims of these attacks.  I wholeheartedly support our greatest friend and ally in the Middle East as they seek to eliminate those who are perpetrating this violence.” This week, Congressman Garrett co-sponsored H. Res. 657, a resolution that reaffirms the United States' support for Israel’s right to defend its citizens and ensure the survival of the State of Israel, condemns the unprovoked rocket fire at Israel, and calls on Hamas to immediately cease all rocket and other attacks against Israel. ### Read More

Huizenga, Garrett Release Major Fed Reform Legislation Including Pathway to Audit the Fed

2014/07/08

Washington, DC – Today, Monetary Policy and Trade Subcommittee Vice Chairman Bill Huizenga (MI-02) and Capital Markets and Government Sponsored Enterprises Subcommittee Chairman Scott Garrett (NJ-05) announced the introduction of H.R. 5018, the Federal Reserve Accountability and Transparency (FRAT) Act.   "Over the past several years, the Federal Reserve has gained unprecedented power, influence, and control over the financial system while remaining shrouded in mystery to the American people," said Huizenga. "H.R. 5018 lifts this veil of secrecy by increasing accountability and transparency by limiting Fed officials 'blackout periods' to discuss policy with Congress, opening the rulemaking process, and requiring the Fed to provide a cost-benefit analysis for every regulation it issues.  Additionally, this legislation urges the Fed to adopt a 'rules-based' approach to monetary policy instead of the continued improvisation strategy currently being employed.  Should the Fed fail to adopt a 'rules-based' approach, it would trigger an audit of the Fed's books." “Despite setting regulatory policies that impact millions of Americans, the Federal Reserve--by and large--operates in secret,” said Garrett after the bill's introduction in the House.  “Congress is all that stands between the central bank's exercise of power over the financial system and the American people.  So it is vital to ensure that the Fed is accountable to the people's representatives.  I'm proud to support Rep. Huizenga's commonsense bill, and look forward to its swift passage.” The bill requires the Federal Reserve to conduct cost-benefit analysis when it adopts new rules. The bill enhances the Federal Reserve’s accountability to Congress in the conduct of regulatory policy and requires transparency about the Federal Reserve’s bank stress tests and about international financial regulatory negotiations conducted by the Federal Reserve, the Treasury Department, and the Federal Deposit Insurance Corporation. The legislation further requires the Federal Reserve to disclose the salaries of highly paid employees and requires those employees to abide by the same ethical requirements as other federal financial regulators. Text of H.R. 5018 can be found here and a section by section analysis of the legislation is available here. ### Read More

Garrett Congratulates Haworth Resident Giancarlo for Taking Top-Spot at the CFTC

2014/06/25

Rep. Garrett (right) congratulates Haworth resident Chris Giancarlo for being sworn-in as the Commissioner of the U.S. Commodity Futures Trading Commission (CFTC). Washington, D.C. – Rep. Scott Garrett (NJ-05) congratulated Haworth resident Chris Giancarlo for being sworn-in as the Commissioner of the U.S. Commodity Futures Trading Commission (CFTC) at a ceremony in Washington, D.C. yesterday morning. “Chris has a long history of promoting sound regulatory policy, free markets and economic liberty,” said Garrett at the ceremony. “I know he will bring a steady hand, common sense, and strong leadership to the Commission. His deep understanding of our derivatives markets make him an ideal choice for serving at the Commission as it continues to implement difficult and complex rules that will have a significant impact on farmers, ranchers, and producers.  Very few people know these markets as well as Chris, and his expertise will come in handy as the Commission faces markets that continue to shift and evolve.” Giancarlo was sworn in as a CFTC Commissioner on June 16, 2014 for a term expiring on April 13, 2019.  Giancarlo was nominated by President Obama on August 1, 2013.  On March 6, 2014, Giancarlo testified regarding his nomination before the U.S. Senate Committee on Agriculture, Nutrition and Forestry, which approved the nomination on April 8, 2014.  The U.S. Senate confirmed his nomination by unanimous consent on June 3, 2014. ### Read More

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Contact Information

2232 Rayburn HOB
Washington, DC 20515
Phone 202-225-4465
Fax 202-225-9048
garrett.house.gov

Committee Assignments

Budget

Financial Services

On January 3, 2013, Congressman Scott Garrett was sworn in to the United States House of Representatives, representing New Jersey’s 5th Congressional District.  Since his election to Congress in 2002, Scott has burnished himself with a reputation as a leading advocate of tax relief and pro-growth economic policies, earning him awards and accolades from a number of national taxpayer and small business groups.

As a senior member of the House Budget Committee, Scott is on the frontline of House Republican efforts to rein in runaway government spending and shrink our country’s ballooning national debt.

A member of the House Financial Services Committee since his election to Congress, Scott has been at the forefront of public policy deliberations dealing with issues related to the financial services industry, developing considerable expertise in areas ranging from securities and finance to insurance and regulatory oversight.

At the beginning of the 112th Congress, Scott was selected to serve as the Chairman of the Financial Services Subcommittee on Capital Market and Government-Sponsored Enterprises.  In this role, Scott presides over the subcommittee with jurisdiction over the Securities and Exchange Commission (SEC) and government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.  In addition, the subcommittee also handles all matters related to capital markets activities such as business capital formation and venture capital, as well as derivative instruments.

As founder and Chairman of the Congressional Constitution Caucus, Scott is highly respected among his House colleagues as an authority on constitutional issues.  Founded in 2005, the Constitution Caucus provides an effective forum for education on constitutional principles and discussion on the appropriate limitations of congressional action.

Born in Englewood, Scott has spent much of his life living in North Jersey, which has instilled in him a great appreciation for the outdoors.  He is a leading proponent of preserving open space and protecting such natural treasures as the Highlands, the Musconetcong River and the Wallkill River National Wildlife Refuge.

Prior to his election to Congress, Scott served in the New Jersey General Assembly from 1990 to 2002, as the senior Assemblyman for the 24th Legislative District, Assistant Majority Leader, and Chairman of the Banking and Insurance Committee.  During his tenure, he also served on the Education, Transportation, Agriculture & Natural Resources Committees, as well as the Joint Committee on Public Schools.

Scott earned his Bachelor of Arts degree from Montclair State University and his Juris Doctor from Rutgers School of Law – Camden.

Scott resides in Wantage Township in Sussex County with his wife, Mary Ellen, and their two daughters, Jennifer and Brittany.


Serving With

Frank LoBiondo

NEW JERSEY's 2nd DISTRICT

Jon Runyan

NEW JERSEY's 3rd DISTRICT

Christopher Smith

NEW JERSEY's 4th DISTRICT

Leonard Lance

NEW JERSEY's 7th DISTRICT

Rodney Frelinghuysen

NEW JERSEY's 11th DISTRICT

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