WASHINGTON, D.C., (November 8, 2023) – Today, U.S. Congressman Tim Burchett (TN-02) offered an amendment to the Financial Services and General Government Appropriations Act which would reduce the salary of Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), to $1. The amendment did not pass the House.
In his remarks on the House floor, Rep. Burchett said, “Rather than implementing his rules to protect and grow investors, which he is supposed to do, Mr. Speaker, Gensler is focused on catering to the left-wing mob. He is forcing companies to prioritize Green New Deal-style climate initiatives and diversity quotas over the interests of investors.”
Republicans and Democrats have both previously expressed concerns regarding Gensler implementing new rules without allowing adequate time for public comment.
Many of these new rules have focused on forcing companies to comply with more Equity, Social, Governance (ESG) policies and increasing reporting requirements for racial and gender demographics in the name of prioritizing diversity quotas over the interests of investors.
Rep. Burchett’s full remarks on the House floor regarding his amendment can be found here.
This is a companion discussion topic for the original entry at https://burchett.house.gov/media/press-releases/rep-burchett-offers-amendment-reduce-sec-chairman-salary-1