Rep. Sean Casten privately told Rep. Maxine Waters this week that he would not challenge her for the House Financial Services gavel next year, according to two people with knowledge of the exchange, batting down speculation that he will run against her if Democrats take back the House.
The revelation comes after Punchbowl News reported that Casten is weighing a bid to challenge Waters for the top spot on the Financial Services panel. Waters, 88, heard rumors this week about Casten considering a challenge and asked him Thursday afternoon if he planned to run against her, one of the people said. He indicated he would not, the person said.
Yet, Casten, 54, is not publicly denying that he is considering a bid. The Illinois Democrat said in a statement Thursday that he has “great respect for Ranking Member Waters, who has made the Financial Services Committee my home in Congress.”
“My focus is on working to ensure we take back the majority,” he said.
Casten, who currently serves as the vice ranking member of House Financial Services, has privately expressed interest in succeeding Waters as Financial Services chair, according to two people with knowledge of his thinking. But POLITICO cannot independently confirm that he is currently considering running against Waters.
A spokesperson for Waters did not immediately respond to a request for comment about the matter.
Casten has previously said he backs Waters. In an interview on Nov. 21, 2025, he told POLITICO: “I think she does a great job and she’s got my support as long as she wants to stay in that seat.”
“She brings the fire,” he said at the time. “I think in this moment you want people who are fighters.”
Waters would be the oldest House Financial Services chair ever — a concern for some Democrats who want fresh blood in the seat. Asked about her age last November, Casten said he didn’t have any concerns about Waters’ abilities.
“I am a firm believer that when people are visibly past their time, it’s time to sort of have some hard conversations,” he said. “That’s a mental issue, not an age issue. And I don’t have any concern that she’s mentally up for the job.”
House Minority Leader Hakeem Jeffries, who is in line to become speaker if Democrats retake the House, has also signaled support for Waters. In a statement to POLITICO in March, Jeffries said that Waters “has led the Financial Services Committee with vision, intellect, passion and skill.”
“It’s my expectation that such iconic leadership will continue in the 120th Congress,” he said at the time.
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