With Election Day fast approaching, the Charlotte Regional Business Alliance welcomed in a leader who has been on the ballot before. But not this year.
Congressman Patrick McHenry is retiring from Congress at the end of this term. He has represented North Carolina in Congress since being elected in 2004.
During his conversation with the business community, McHenry talked about his time serving in Congress, including the last two eventful years, and what he’ll look forward to in the next chapter of his life.
“Charlotte is the dominant economic factor for both Carolinas,” McHenry said.
Having represented parts of the Charlotte region for 20 years in Congress, McHenry is well aware of the importance of the region’s economy. With more than 117 people moving to the region every day, there is ample economic opportunity available to current and existing residents.
McHenry noted that his last two years in office have been particularly eventful.
For McHenry, 2023 started with getting bitten by a fox while on a run on the National Mall. That would turn out to be only a minor setback as McHenry’s role in Congress brought him many more challenges.
Early in 2023, McHenry served as a strong ally to Kevin McCarthy, who was seeking election as the Speaker of the House of Representatives. McHenry was involved in the negotiations among Republicans that ultimately led to McCarthy receiving the gavel – on the 15th ballot.
Months later, McHenry had to navigate the failures of Silicon Valley Bank and Signature Bank as chairman of the House Financial Services Committee.
Just a few months after that, McHenry played a critical role in the debt ceiling negotiation, helping shepherd bipartisan legislation to the president’s desk.
In October of 2023, Kevin McCarthy was ousted as Speaker of the House. McHenry served as House Speaker Pro Tempore to oversee the election of the new Speaker, as the House ultimately chose Mike Johnson from Louisiana.
For all the crises he navigated, McHenry has a memento to remember 2023. He will take the gavel he used as Speaker Pro Tempore as he leaves office.
McHenry also touched on some of the policies he was able to impact while in office. In addition to the debt ceiling negotiation, McHenry said he appreciated being able to work on the Tax Cut and Jobs Act. Many provisions of that legislation will be expiring next year, and he expects the new Congress to take a look at which sections might be renewed or modified.
McHenry prioritized a few items in his time on the House Financial Services Committee, including as chair. He has worked to update financial data privacy policy, which had dated to the early 1990’s. Additionally, he has worked to expand capital formation opportunities, especially making capital more accessible for small businesses. He has also focused on advancing clear regulation of digital assets, pointing to precedent in regulating securities and commodities. In all these policy areas, he noted that consumer protection is always paramount.
McHenry has seen many changes in his time in Congress, including technology upgrades that have improved constituent services and enabled more efficient modifications to legislation. House leadership has also worked in transparent ways with members, helping new members better understand their roles and their opportunities to serve constituents.
As McHenry prepares to leave office, he reflected on the great people he has been able to work with over the years, including staff and other members of Congress.
“I leave my service optimistic and grateful for the opportunity to have an impact on our country, community, and state,” he said.
What’s next for McHenry remains to be seen. However, he concludes his service optimistic about the country. He shared his affection for the uniquely American idea that we are inherently focused on self-improvement.
“We were far from perfect at our founding and are far from perfect now, but we have a system to fight for something better,” he said.
At the conclusion of the program, Joe Bost, chief advocacy officer of the CLT Alliance, and a former staff member for McHenry presented the congressman with the Order of the Long Leaf Pine. The award is conferred by the Governor of North Carolina to people for exemplary service to the state and their communities that is above and beyond the call of duty and which has made a significant impact and strengthened North Carolina.
