Senate Finance Committee Republicans are in for massive change next Congress when more than one-third of the GOP ranks on the panel could turn over.
The wave of Republican exits from one of Congress’ most powerful committees — charged with everything from taxes to healthcare — could leave about five sought-after seats up for grabs.
The turnover is partly a product of President Donald Trump’s campaign against GOP incumbents he deemed disloyal. Senate Finance Committee members John Cornyn (R-Texas) and Bill Cassidy (R-La.) lost primaries to Trump-backed challengers. Sen. Thom Tillis (R-N.C.) decided not to seek reelection after clashing with Trump over the One Big Beautiful Bill.
Plus, Sen. Steve Daines (R-Mont.), another tax writer, is retiring. Sen. Marsha Blackburn (R-Tenn.), who joined the Finance Committee in 2023, is running for Tennessee governor.
Who we’re watching. Senate Republicans dole out committee assignments through a mix of leadership decisions and seniority. Finance’s wide jurisdiction over tax, trade, healthcare and Social Security always makes it a hot pick.
Tax watchers see Sens. Bernie Moreno (R-Ohio), Ted Budd (R-N.C.), John Curtis (R-Utah) and Dave McCormick (R-Pa.) among potential GOP contenders for a seat. Sen. Kevin Cramer (R-N.D.) expressed interest in joining Finance in the past. But it’s still early, so it’s unclear which committees some senators will ultimately vie for this time.
With the scale of turnover, the tax world is also eyeing potential newcomers, though it’s very difficult to get on Finance without more seniority. Rep. Kevin Hern (R-Okla.), the frontrunner for Oklahoma’s open Senate seat, currently serves on the Ways and Means Committee and has been very tax-focused during his time in Congress. But Sen. James Lankford (R-Okla.) is on Finance, and two senators from the same state typically can’t both serve on the prestigious panel.
Also, former Sen. John Sununu (R-N.H.), who was on Finance, is attempting a comeback bid in New Hampshire.
It’s unclear how many open seats Republicans will have to fill. The total number of GOP spots on Finance will depend on several factors, including whether Republicans can hang on to their Senate majority and the margin.
The other side of the aisle. Senate Democrats were in a similar position the last go-around, when six of their 14 members exited.
Democrats could see two departures next Congress: Sen. Tina Smith (D-Minn.) isn’t seeking reelection, and Sen. Michael Bennet (D-Colo.) is running for Colorado governor.
Former Sen. Sherrod Brown (D-Ohio) is running against Sen. John Husted (R-Ohio) and could return to the Finance Committee if he wins.
