Gary Gensler, chairman of the U.S. Securities and Exchange Commission, is scheduled to make back-to-back appearances before House and Senate lawmakers this week to testify about President Joe Biden’s sweeping corporate tax proposals.
Gensler’s testimony comes in light of Biden’s proposal to raise the corporate tax rate, close expensive loopholes, and invest in domestic economic activities. Gensler will address questions from both chambers of Congress about how the SEC will support the implementation of the American Rescue Plan and the policies needed to encourage responsible corporate behavior.
Gensler will also likely be asked to comment on recent initiatives such as the SEC’s Modernization and Review of Disclosure Regulation and the implementation of the Corporate Governance and Risk Oversight rule. Additionally, lawmakers may ask for his views on other regulatory issues such as corporate sustainability, the revival of the investor protection rule, and other initiatives affecting the stability and accuracy of disclosure data.
The hearings will not only provide information about the SEC’s current initiatives and future plans but also present an important opportunity for Congress to gain insights into a wide range of complex financial issues. Gensler’s testimony will likely provide a better understanding of how the SEC will support Biden’s initiatives and work to ensure a more equitable financial system for all Americans.
