Economy Taxes and Trade
Washington, D.C. – In advance of a much-anticipated report by the IRS on May 16th, 2023 regarding free direct e-filing, Congressman Brad Sherman (CA-32) and Congresswoman Katie Porter (CA-47) were joined by 16 other Members of Congress in sending a letter to the IRS urging them to create a free, direct e-file tool for American taxpayers.
Washington, D.C. -- On Wednesday, May 10, 2023, the Financial Services Subcommittee on Financial Institutions and Monetary Policy held a hearing titled "Federal Response to Recent Bank Failures" that examined events leading up to and surrounding the closure of Silicon Valley Bank (SVB), Santa Clara, CA, Signature Bank (Signature Bank), New York, NY; First Republic Bank, San Francisco, CA; and First Republic Bank, San Francisco, CA by state and federal banking regulators.
WASHINGTON, D.C. – Today, Congressman Brad Sherman (CA-32) voted against the Default On America Act. This extreme MAGA Republican legislation presents Americans with a terrible choice: either House Republicans will wreck our economy or inflict cruel cuts that hurt everyday people.
Washington, D.C. -- Today, the Chair of the U.S. Securities and Exchange Commission (S.E.C.), Gary Gensler appeared before the House Committee on Financial Services for a hearing examining the oversight of the S.E.C.
Congressman Brad Sherman, senior member of the House Financial Services Committee, questioned the S.E.C. chair on a range of issues pertaining to consumer and investor protection.
"Investor protection is not the antithesis of capital formation, it is the necessary antecedent," said Sherman during the hearing.
With the acute phase of the Silicon Valley Bank and Signature Bank debacle coming to a close, Congress now has an opportunity to make the financial system safer.
There are only three dozen medium-sized banks — with between $50 and $250 billion in total assets — in the United States. Two failed within a week, and several others needed help to survive. Clearly, better regulation of this sector is needed.
Washington, D.C. - Congressman Brad Sherman (D-CA), senior member of the House Financial Services Committee and Chair of the CPA Caucus, spoke on the House Floor against the Republican's bill to defund the IRS.
"...Everytime a billionaire cheats on their taxes, a Member of the House Freedom Caucus earns his wings," Sherman exclaimed.
Watch Sherman's Full Speech Here
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Washington, D.C. – Congressman Brad Sherman (D-CA) unveiled the Petroleum Price Reduction Act - legislation to prohibit the export of petroleum products during periods of high oil prices to help keep prices at the pump for gasoline, diesel and other petroleum-based fuels in check.
Sherman Oaks, California -- Congressman Brad Sherman (D-Sherman Oaks) joined the Biden Administration to commemorate the 1-year anniversary of the historic Bipartisan Infrastructure Law that is quickly transforming communities across the nation.