Sen. Charles Grassley, R-Iowa, will be the next chairman of the Senate Finance Committee, current Chairman Orrin Hatch, R-Utah, said Friday.
Mr. Grassley's official selection by the Republican members of the committee will be announced at the beginning of the 116th Congress and is subject to confirmation by the Senate Republican Conference.
"The Finance Committee will be in good hands with Sen. Grassley at the helm. Chuck has a proven history of leadership at the committee and knows the ins and outs of its sprawling jurisdiction," said Mr. Hatch, who is retiring at the end of the year.
Mr. Grassley chaired the influential committee for several months in 2001 and again from 2003 through 2006. He was a key author of the Pension Protection Act of 2006, which included reforms aimed at dealing with Pension Benefit Guaranty Corp. deficits.