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I find it weird that on committees, senators say "thank you" to the chairman when they get the chance to speak, or when they cede back time.
What are they thanking the chairman for? For example, is the chairman being in some sense generous by letting them speak (e.g. does he have the power to just refuse arbitrarily)? Or is the chairman responsible for the schedule and they're thanking him for the work gone into that? Or is it something else?
In official proceedings of the United States Congress, members are expected to maintain a high degree of decorum.
The repeated "thanks" (even though he may not mean it), and "my good friend, the Senator from ..." (even though she hates him), may not be sincere, but is done anyway out of common decency and respect for the institution.
So, they're not really thanking the chairman solely to express appreciation (because they are entitled to be recognized to speak). They are also being polite and respectful.
You can find more here:
A more cynical view of the exchange than Michael_B's answer might be to ask why salespeople thank me for my time after a sales pitch, or why I thank my boss for whatever managerial approval I need to do whatever task/project I'm on, or why people in general exchange any pleasantries or suppress feelings of contempt and loathing for each other.
It never hurts to flatter someone who can do something for you (or wield their power against you), and depressingly often, hollow flattery and "decorum" actually help you get a more favorable result. It's kind of like bribery, but without the drawback of costing anything.
