Maxine Waters and Sean Casten vie for top Democratic seat on House Financial Services Committee
Summary
- Reps. Maxine Waters and Sean Casten are competing for the top Democratic seat on the House Financial Services Committee after the 2026 midterm elections.
- Waters, 88, has led the committee's Democrats since 2013; Casten, 54, the Illinois panel's vice ranking member, launched his challenge on November 5.
- Waters launched her bid on November 6 with an agenda of 'affordability, accountability and accessibility,' targeting crypto, private equity, and junk fees.
- Casten says he is courting the entire caucus and has not ruled out staying in the race after a vote of the Democrats' steering committee.
- Waters says oversight of President Trump's crypto ventures would be the committee's main mission if she takes the gavel in the next Congress.
- House Democrats' steering committee recommends committee leadership picks to the full caucus, with elections set for December 2026.
Reactions
- Waters downplayed Casten's challenge, saying she is not running against him but that he is running against her.
- Casten declined to say whether he would withdraw if he loses the steering committee's initial vote, saying he is 'looking at the entire caucus'.
- Casten said Waters' age is 'not the reason' he challenged her, citing instead members' concerns about the committee's management and membership.
- Waters pledged changes in a letter to colleagues to empower subcommittee chairs, improve collaboration, and create leadership roles for newer members.
- Casten says he entered the race after hearing from members who want a chair with policy expertise who helps colleagues win and raise resources.
- Rep. Bill Foster of Illinois is considering a run for the post but leans against joining the race.
Timeline newest first
Waters, 88, faces the challenge from Casten, 54, the committee's vice ranking member, citing her more than 13 years as the panel's top Democrat.
Sources newest first
Oversight will be ‘main mission’ of the Financial Services Committee, Maxine Waters says
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House Democrat challenging Maxine Waters says he's 'looking at the entire caucus'Politico's Inside Congress newsletter leads with Rep. Sean Casten challenging Rep. Maxine Waters for the House Financial Services gavel, saying he's "looking at the entire caucus" and won't rule out staying in after a steering committee vote. It also reports Chris Van Hollen's challenge to Chuck Schumer for Senate majority leader, Jensen Huang's resignation as Nvidia CEO amid spy allegations and Senate Banking hearings demanded from him and Commerce Secretary Howard Lutnick, a possible December showdown over Iran war funding, Jeff Merkley taking the Environment and Public Works gavel, and Jim Jordan poised to lead a shrunken House GOP minority.
Launching chair bid, Waters targets crypto, predictions markets, private equityPOLITICO's Inside Congress newsletter reports Rep. Maxine Waters' launch of her bid to keep leading Democrats on the House Financial Services Committee, vowing to target crypto corruption, prediction markets, private equity, junk fees, and affordable housing, as Illinois Rep. Sean Casten challenges her for the post. It also covers Democrats weighing whether to block funding for the Iran war before a mid-December shutdown deadline, Black lawmakers urging party investment in the South, and Hakeem Jeffries' objections to the Senate permitting bill.
Sean Casten officially challenges Maxine Waters for House Financial Services gavelPolitico's Inside Congress newsletter charts the leadership scramble after Democrats' midterm wave: Sean Casten is officially challenging Maxine Waters for the Financial Services gavel, while Ted Lieu, Pete Aguilar, Katherine Clark, Gregory Meeks, Robert Garcia, Joe Neguse and Richard Nel launched bids, and Republicans Steve Scalise and Jim Jordan face off for minority leader. It also reports Greg Steube's conference chair run, Ron Johnson's push to delay Senate GOP elections, AIPAC's bruising losses, and House pickups in North Carolina, Montana, and elsewhere.
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