Joyce Remarks at Oversight Hearing on U.S. Department of The Treasury

I would like to thank Secretary Bessent for being here today and for his leadership and steady hand over the last several months. 

We are living in an increasingly complex world with no shortage of issues.  Whether it be taxes or tariffs, rightsizing regulation, or creating a regulatory framework for digital assets, the Department of the Treasury’s role is fundamental to their resolution. If we think about it, this is why the Department of the Treasury was created. The Department is central to maintaining a strong economy, creating jobs, and promoting economic growth both here and abroad.  

It was created to bolster our national security and ensure our economic stability – and it continues to thwart terrorists and criminals and protect the financial system from illicit activity every day. Fulfilling these responsibilities is no easy task. As the Department’s Fiscal Year 2025 spending plan reveals, it takes significant resources. It starts with a strong workforce, the most updated technology, and appropriate working conditions – including buildings that are sufficiently maintained.  But this doesn’t happen in a vacuum. It also takes cooperation, transparency and accountability.

As this Committee looks to fund the Department’s future operations, we need to understand the priorities and how the Department is deploying resources across its divisions and bureaus and why. There are definitely efficiencies to be identified. But changes need to be thoughtful and deliberate to ensure the Department’s mission is still being accomplished. We need to ensure our financial system, the economy and our leadership around the world is safe, secure, and thriving. Secretary Bessent, there are and will be challenging times ahead. But I believe you are the right person at the right time to overcome these challenges. I look forward to working with you. 

I yield back.