WASHINGTON — Democratic Rep. Bill Pascrell never got along with Republican Scott Garrett when they represented North Jersey together in Congress.
Things have not changed since Garrett lost his bid for re-election in 2016.
Angered that Garrett landed a job at the Securities and Exchange Commission after his nomination to be president of the U.S. Export Import Bank was rejected by the Senate’s banking committee, Pascrell is trying to cut his former colleague’s salary to $1.
Pascrell announced Friday he has introduced the pay cut as an amendment to the spending bill that funds the Securities and Exchange Commission. Despite a hiring freeze, Garrett has begun working at a $215,001 salary in the SEC’s Office of General Counsel, according to a report by Politico.
A founder of the House Freedom Caucus who represented New Jersey’s 5th District from 2003 through 2017, Garrett was a fierce opponent of government spending and federal regulations who often voted against measures that Democrats and even a majority of his fellow Republicans supported.
As chairman of a subcommittee that regulated Wall Street, Garrett frequently challenged attempts to boost the SEC’s funding, especially after the enactment of the Dodd-Frank financial overhaul law. Garrett contended the agency had failed to prevent the financial collapse that began in 2007 and should not be rewarded.
Pascrell said the SEC deserves employees who support its mission.
“Throughout his time in Congress, Mr. Garrett was an unswerving foe of the SEC’s core functions, and repeatedly sought to undermine its work,” Pascrell said. “Besides highlighting galling hypocrisy, awarding Mr. Garrett a salary of over $200,000 to enforce regulations he worked tirelessly to rip up defies any logic I can comprehend.”
The spending bill Pascrell is trying to amend is due to be considered in the House next week.
An SEC spokesman declined a request for comment.