Economy Taxes and Trade

Washington, D.C. – Today Congressman Brad Sherman (D-Sherman Oaks) announced he will introduce the Emergency Infant Formula Act – legislation that focuses on increasing the supply of infant formula amid the national shortage crisis.

Washington, D.C. – Today the House passed Congressman Brad Sherman's (D-CA)H.R. 7066 theRussia and Belarus Financial Sanctions Act which directs U.S. financial institutions to ensure their subsidiaries, including foreign branches, comply with U.S. sanctions against Russia and Belarus. This legislation representsan important step towards enhancing the effectiveness of the U.S. sanctions imposed to cripple the economies of Russia and Belarus in response to the historic act of aggression against Ukraine.

Sherman Oaks, California – As taxpayers rush to file last-minute returns by tonight's midnight deadline, Congressman Brad Sherman (CPA, former head of the second largest tax agency in the country and Co-Chair of the bipartisan, bicameral CPA Congressional Caucus) is helping Californians uncover over $405 million in old refunds that are just waiting to be delivered to up to 412,000 Californians.

Washington, D.C. – Today, Congressman Brad Sherman (D-CA), who Chairs the Subcommittee on Investor Protection and Capital Markets, Congressman Al Green (D-TX), who Chairs the Financial Services Subcommittee on Oversight and Investigations, and thirteen House cosponsors introduced the Russian Digital Asset Sanctions Compliance Act of 2022.

Today, Congressman Brad Sherman (D-CA), Chair of the House Financial Services Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets, released the following statement on the Securities and Exchange Commission's publishing of new proposed rules to require increased climate-related disclosures for public companies:

Washington, D.C. – Today, the House included Congressman Brad Sherman's (D-Sherman Oaks) Adjustable Interest Rate (LIBOR) Act – in the Omnibus government funding package which will pass the House tonight. The bill will protect an estimated $16 trillion of loans, securities, and other financial instruments from chaos and costly litigation when the London Interbank Offered Rate ("LIBOR"), often called "the world's most important interest rate," is discontinued on June 30, 2023.

Washington, D.C. – Today the House passed two provisions offered by Congressman Brad Sherman (D-Sherman Oaks), Chair of the House Financial Services Subcommittee on Investor Protection and Capital Markets, which will significantly increase oversight and accountability of Chinese companies raising capital from American investors. These provisions were included in H.R.