US lawmaker seeks to slash SEC chief’s salary to just $1
U.S. legislator has proposed reducing the annual salary of Securities and Exchange Commission chair Gary Gensler to a mere one dollar. Representative Tim Burchett has put forth an amendment to the Financial Services and General Government (FSGG) bill, proposing to reduce SEC Chair Gary Gensler’s salary to $1 in an effort that aligns with a broader proposal to defund the regulator. The FSGG bill, introduced on July 13, encompasses a variety of measures designed to slash federal spending. Gensler, believed to earn over $300,000 annually for his role at the SEC, has become a focal point in this legislative push for fiscal prudence. Burchett was not the sole legislator advocating for reduced SEC funding, with the overarching bill proposing significant funding reductions for several government agencies. You might also like: SEC’s Gary Gensler advises crypto industry in Bitcoin whitepaper anniversary post Representative Steve Womack, presenting the bill to the House Rul...