Capitol Briefing

Updated version of a Sept. 8 report
By Paul Kane and Ben Pershing
Sen. Christopher Dodd (D-Conn.) has decided to remain chairman of the Senate Banking Committee, rather than succeeding his close friend and mentor, the late Edward M. Kennedy (D-Mass.) as chairman of the Senate's health committee.

"We have important work to do on the Banking Committee, and I intend to see it through as chairman," Dodd said in a statement. "The Banking Committee is of vital importance to Connecticut, responsible for issues central to the economic security and prosperity of the people of my state."

The decision left the chairmanship of the HELP Committee to Sen. Tom Harkin (D-Iowa), who follows Dodd in seniority.

Harkin is currently chairman of the Agriculture Committee and will give up that position. He will be replaced at Agriculture by Sen. Blanche Lincoln (D-Ark.), who faces a difficult reelection bid in 2010. Three other Democrats on the committee have more seniority than her: Sens. Patrick J. Leahy (Vt.), Kent Conrad (N.D.) and Max Baucus (Mont.). But each holds a more prestigious chairmanship already: Judiciary, Budget and Finance, respectively.

Though he has chosen not to take the top job on the Health, Education, Labor and Pensions panel, Dodd said he does plan to honor the pledge he made to Kennedy to lead the fight on health care. "I intend to keep the promise I made," he said. "And so, I am pleased that I will able to continue the role he asked me to take on as the HELP Committee's leader on health care reform."

Dodd also faces a difficult reelection race in 2010, and he emphasized Wednesday that his decision would be good for residents of Connecticut, as he will lead the charge for financial regulatory reform.

"We're up against a lot of well-financed special interests fighting for the status quo," Dodd said. "But I don't work for them. I work for the people of Connecticut."

While Kennedy battled brain cancer for 15 months, Dodd, Harkin and other Democrats on the committee divided up the chairman's responsibilities, with Dodd overseeing the panel's health-care legislation. When the Senate takes up that critical legislation later this year, Dodd is expected to continue being the public face of the committee's effort, a decision that might give him a boost in a tough reelection battle in 2010.

By remaining as Banking chairman, Dodd will now oversee the complex rewriting of regulations governing the financial services industry -- a sector that critics have accused him of being too close to in his personal and legislative dealings. A financial regulatory bill with tough new regulations on that industry might help beat back some of those critics.

By Paul Kane | September 9, 2009; 2:52 PM ET
Categories: Dem. Leaders , Senate
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