U.S. Capitol (Photo: Shutterstock) (Photo: Shutterstock)

Sen. Chuck Grassley, R-Iowa, said Friday that he will opt to serve as chairman of the Senate Committee on Finance during the 116th Congress when committees are organized in January.

Grassley, who currently serves as chairman of the Senate Judiciary Committee, previously chaired Senate Finance from January 2001 to June 2001 and from January 2003 to January 2007.

He also served as ranking member from June 2001 to January 2003 and from January 2007 to January 2011.

“The economy is better than it’s been in years and there’s a sense of optimism about the future of our country that people haven’t felt in a long time thanks to the pro-growth policies of a Republican President and a Republican majority in Congress,” Grassley said in a statement.

Sen. Orrin Hatch, R-Utah, the committee’s current chair, announced in January that he would retire when his term ends early next year.

In a statement, Hatch said that the committee would be in good hands under Grassley. “Chuck has a proven history of leadership at the committee and knows the ins and outs of its sprawling jurisdiction,” Hatch said. “I am confident Chairman Grassley will carry out a robust agenda that will build on tax reform’s recent success and continue to make progress in the health care, trade and oversight spaces.”

Improving the affordability, quality and accessibility of health care, including in rural America, would also be on Grassley’s list.

Senate Republican Conference rules limit service as chairman and ranking member to six years or three Congresses for each role.

Grassley is eligible to serve as chairman of the Senate Finance Committee for one full Congress.