Rep. Chris Van Hollen (D-Md.), fresh off a mid-term beatdown as chairman of the DCCC, formally announced his candidacy today for Ranking Member of the House Budget Committee, in a letter to Democratic colleagues:

I write to ask for your support to serve as Ranking Member of the Budget Committee for the 112th Congress.
Over the next two years we will be engaged in a critical debate over how best to strengthen our economy and move our country forward for all Americans. The Budget Committee will be a central front in this national conversation about how to accelerate job creation and economic growth. This will not just be a fight over numbers. It is ultimately a debate about who we are and the future direction of our country.
Our Republican colleagues have made clear their plan to use the budget process to provide a $700 billion tax cut for the wealthiest Americans by adding to our national debt and slashing education and other investments that are necessary for America to compete in the global economy. Other Republican proposals on Medicare and Social Security would jeopardize the health and retirement security of America’s seniors. We must fight these upside down priorities at every turn. At the same time, we must offer a well-defined path to put our nation on a fiscally sustainable course.

Van Hollen is not on the Budget Committee, but current chairman John Spratt (D, S.C.) was a casualty of the GOP mid-term wave, and vice-chair Allyson Schwartz (D, Pa.) is backing Van Hollen for the top position, according to The Washington Post.