Sen. Lindsey Graham Lindsey Olin GrahamSenate GOP aims to confirm Trump court pick by Oct. 29: report The Hill's Campaign Report: GOP set to ask SCOTUS to limit mail-in voting Senate GOP sees early Supreme Court vote as political booster shot MORE (R-S.C.) is poised to become the chairman of the Senate Judiciary Committee after Sen. Chuck Grassley Charles (Chuck) Ernest GrassleyThe Hill's 12:30 Report: Ginsburg lies in repose Top GOP senators say Hunter Biden's work 'cast a shadow' over Obama Ukraine policy Read: Senate GOP's controversial Biden report MORE (R-Iowa) announced Friday that he would step down to take over the chairmanship of the Finance Committee.

The shuffle would put Graham, a close ally of President Trump Donald John TrumpBiden on Trump's refusal to commit to peaceful transfer of power: 'What country are we in?' Romney: 'Unthinkable and unacceptable' to not commit to peaceful transition of power Two Louisville police officers shot amid Breonna Taylor grand jury protests MORE who made headlines this fall with a forceful denunciation of Democrats during Brett Kavanaugh Brett Michael KavanaughHarris faces pivotal moment with Supreme Court battle Poll: 59 percent think president elected in November should name next Supreme Court justice Feinstein 'surprised and taken aback' by suggestion she's not up for Supreme Court fight MORE's Supreme Court confirmation hearings, in charge of the panel handling judicial nominations.

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Graham is up for reelection in 2020.

He praised Grassley’s leadership of the committee in a Tweet Friday.

“I very much appreciate Senate @ChuckGrassley’s leadership of the Senate Judiciary Committee. He chaired the committee with a steady hand, sense of fundamental fairness, and resolve,” Graham tweeted. “His leadership serves as a model to us all.”

In a subsequent statement, Graham said he would make confirming conservative judges a top priority.

“If I am fortunate enough to be selected by my colleagues to serve as chairman, I will push for the appointment and Senate confirmation of highly qualified conservative judges to the federal bench and aggressive oversight of the Department of Justice and FBI,” he said.

Graham’s ascension to chairman must be ratified by his GOP colleagues on Judiciary, but that is considered merely a formality.

The South Carolina Republican will also have jurisdiction over the Department of Justice and special counsel Robert Mueller Robert (Bob) MuellerCNN's Toobin warns McCabe is in 'perilous condition' with emboldened Trump CNN anchor rips Trump over Stone while evoking Clinton-Lynch tarmac meeting The Hill's 12:30 Report: New Hampshire fallout MORE’s investigation into the Trump administration.

Graham met Thursday with Matthew Whitaker, the acting attorney general whom Trump appointed to replace Jeff Sessions Jefferson (Jeff) Beauregard SessionsGOP set to release controversial Biden report Trump's policies on refugees are as simple as ABCs Ocasio-Cortez, Velázquez call for convention to decide Puerto Rico status MORE the day after the election.

Whitaker assured the senator that he saw no reason to fire Mueller, something that has been a top concern of Democrats and some Republicans since Sessions’s resignation.

“As to Mueller investigation, I’m confident that it is not in jeopardy,” Graham said after meeting with Whitaker.

Whitaker told Graham that he doesn’t think Mueller’s probe has breached any guidelines.

“There’s no reason to fire him. I asked him, ‘Do you have any reason to [fire] Mr. Mueller. He said he has zero reason to believe anything is being done wrong with the Mueller investigation,” Graham said, recounting the conversation.

Grassley, who was fiercely criticized by Democrats for his handling of Kavanaugh’s nomination, said he’s looking forward to working on economic issues.

“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. “Looking ahead, at the Finance Committee, I want to continue to work to make sure that as many Americans as possible get to experience this good economy for themselves.”

Grassley said he would focus on passing additional tax relief, expanding markets for farmers, manufacturers and service providers, and reforming health care.

The Senate Finance Committee is one of the most powerful in Congress. It was at the center of the health care and tax reform debates of 2017 and also has jurisdiction over trade and the major entitlement programs: Social Security, Medicare and Medicaid.

-- Updated 1:51 p.m.