Heard on the Hill – 09/23/24
What we’re hearing from people we trust on and around the Hill.
What we’re hearing from people we trust on and around the Hill – please send us more tips!
Gensler week: The chairman of the Securities and Exchange Commission is testifying in front of both the Financial Services Committee on Tuesday and the Senate Banking Committee on Wednesday. Expect strong criticism from R’s for Gensler’s anti-crypto policies and his demands for massive data from financial firms.
Huizenga slams Gensler: Rep. Bill Huizenga (R., Mich.), who is running to chair the Financial Services Committee next Congress, told the Washington Reporter: “Under Chair Gensler’s stewardship, the SEC has continually steered into uncharted waters only to be course corrected time and again in federal court. Despite Chair Gensler’s repeated rhetoric, I am looking forward to hearing from the full commission regarding recent actions by the SEC.”
Second crack at Crenshaw: joining Gensler in Tuesday’s hearing is SEC commissioner Caroline Crenshaw, who has faced withering criticism from Republicans for her hostility to digital assets and prioritization of ESG disclosure requirements for public companies. The hearing is another opportunity for Republicans to get her on the record on these hot button issues before she faces any Senate confirmation vote.
Uyeda opportunity: Republican SEC Commissioner Mark Uyeda recently unloaded on Gensler in a Fox Business interview; Uyeda is a potential candidate to chair the commission in a Trump administration, industry sources told the Reporter.
Pharma patent reform: The Reporter’s sources tell us to expect bipartisan cooperation on legislation that cracks down on alleged patent abuse by drug manufacturers, as the legislation is reported to “score well by CBO so we need the savers.”
Florida man: President Donald Trump is hosting another fundraiser at Mar-a-Lago next month, per an invitation obtained by the Reporter.
