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Judiciary Republicans Raise Concerns About South Korea Law Targeting American Companies and Online Speech
WASHINGTON, Aug. 7 -- Rep. Jim Jordan, R-Ohio, chairman of the House Judiciary Committee, issued the following news release on Aug. 6, 2026:
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Judiciary Republicans Raise Concerns About South Korea Law Targeting American Companies and Online Speech
Today, House Judiciary Committee Chairman Jim Jordan (R-OH), Subcommittee on the Administrative State, Regulatory Reform, and Antitrust Chairman Scott Fitzgerald (R-WI), Subcommittee on Courts, Intellectual Property, Artificial Intelligence, and the Internet Chairman Darrell Issa (R-CA), and Rep. Michael Baumgartner (R-WA) sent a letter to Kim
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WASHINGTON, Aug. 7 -- Rep. Jim Jordan, R-Ohio, chairman of the House Judiciary Committee, issued the following news release on Aug. 6, 2026:
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Judiciary Republicans Raise Concerns About South Korea Law Targeting American Companies and Online Speech
Today, House Judiciary Committee Chairman Jim Jordan (R-OH), Subcommittee on the Administrative State, Regulatory Reform, and Antitrust Chairman Scott Fitzgerald (R-WI), Subcommittee on Courts, Intellectual Property, Artificial Intelligence, and the Internet Chairman Darrell Issa (R-CA), and Rep. Michael Baumgartner (R-WA) sent a letter to KimJong-cheol, Chairman of the Korea Media and Communications Commission (KMCC), raising concerns about South Korea's recent amendment that would allow the KMCC to punish American companies and their users for exercising their constitutionally protected rights.
Recently, South Korea amended its Information and Communications Network Act to give courts the unprecedented power to punish news outlets and social media users for spreading "false or manipulated information" and extract damage awards of up to five times any alleged harm. It would also allow the KMCC to impose massive fines on news outlets and users that it deems to have spread such information.
The amendment is specifically aimed at American companies and was reportedly designed to address "false and manipulated information spread" on American-owned platforms like YouTube. The amendment targets "content publisher[s] with over 100,000 subscribers, or a monthly average of 100,000 views," as well as "large platforms. . . with over a million daily users on average." It requires large platforms to "institute formal procedures to respond to complaints, take down offending content, generate transparency reports, and submit to governmental investigations." The vast majority of online platforms that fall within these criteria, such as Facebook, X, Instagram, and YouTube, are American-owned companies.
The KMCC has publicly stated that it will not be providing a grace period for companies to come into compliance with the amended policy, which could force American companies to remove speech or face massive fines and penalties for failing to comply, giving South Korea the ability to coerce American businesses into removing politically disfavored speech, including the speech of American citizens that may be available in South Korea or shared by South Korean users.
The Committee has previously documented efforts by foreign regulators to use the threat of false or misleading information to exercise greater control over online expression and censor politically disfavored speech. South Korea seems to be following in the EU's footsteps, adopting legislation modeled directly on the DSA.
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INFODOC: https://judiciary.house.gov/sites/evo-subsites/republicans-judiciary.house.gov/files/evo-media-document/2026-08-06-jdj-sf-dei-mb-to-kim-re-sk-information-communication-network-act.pdf
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Original text here: https://judiciary.house.gov/media/press-releases/judiciary-republicans-raise-concerns-about-south-korea-law-targeting-american
Husted, GOP Colleagues Lead Effort to Reject Radical California Vehicle Standards
WASHINGTON, Aug. 7 -- Sen. Jon Husted, R-Ohio, issued the following news release:
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Husted, GOP colleagues lead effort to reject radical California vehicle standards
"Ohioans shouldn't be forced to follow California's lead when it comes to policies that make everyday life more expensive and less convenient."
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Sen. Jon Husted (R-Ohio) joined Sens. Pete Ricketts (R-Neb.), Cynthia Lummis (R-Wyo.) and Eric Schmitt (R-Mo.) in introducing multiple Congressional Review Act resolutions to overturn regulations that limits consumer choice and increases vehicle prices.
Husted is leading a resolution
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WASHINGTON, Aug. 7 -- Sen. Jon Husted, R-Ohio, issued the following news release:
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Husted, GOP colleagues lead effort to reject radical California vehicle standards
"Ohioans shouldn't be forced to follow California's lead when it comes to policies that make everyday life more expensive and less convenient."
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Sen. Jon Husted (R-Ohio) joined Sens. Pete Ricketts (R-Neb.), Cynthia Lummis (R-Wyo.) and Eric Schmitt (R-Mo.) in introducing multiple Congressional Review Act resolutions to overturn regulations that limits consumer choice and increases vehicle prices.
Husted is leading a resolutionto overturn a Biden administration waiver that allows California to require other states to adopt its Advanced Clean Cars II standards, including stricter greenhouse gas emissions requirements and a phaseout of new gas-powered vehicle sales.
"Ohioans shouldn't be forced to follow California's lead when it comes to policies that make everyday life more expensive and less convenient. These resolutions are part of our work to make life more affordable for working families, restore common sense, cut unnecessary red tape and put consumers back in control. I'm proud to support this effort to lower costs and protect consumer choice," said Husted.
"California's climate zealots have run roughshod over the rest of the country for too long. Under Governor Newsom, Sacramento has decided it can dictate what Wyoming families drive and what equipment our small businesses use. That ends today. I'm proud to lead this fight to reclaim Congress's authority and stop California from legislating for the entire nation," said Lummis.
"Biden's overregulation and red tape regime cost Nebraskans millions of dollars. They used California policies as a backdoor EV mandate and even tried to control how we cut our grass. I am proud to lead the effort to overturn these restrictions and restore commonsense. I will continue to fight for policies that empower our families, farmers, and ranchers," said Ricketts.
"California's burdensome emissions requirements continue to punish American manufacturers, reduce consumer choice, and raise prices for American families. One state should not have the power to set national policy and dictate what products Americans use far beyond its borders. Overturning these climate alarmist rules will not only restore common sense, but also prevent a future administration from attempting to grant similar waivers. I'm proud to lead the Congressional Review Act resolution to repeal the EPA-California State Motor Vehicle Control Standards Waiver and join Senators Ricketts, Husted, and Lummis in our effort to help make life more affordable for American families," said Schmitt.
"Ohio's franchised auto dealers commend Sen. Husted for introducing this important pro-consumer legislation. California's unnecessary fuel economy regulations have increased vehicle costs while decreasing vehicle choice. Congress, not an unaccountable California board, is the only body that should set national fuel economy regulations," said Zach Doran, President, Ohio Auto Dealers Association.
"For over a decade, California has tried to abuse the Clean Air Act waiver process to set national policy that Congress never approved, unilaterally deciding what cars Americans can buy and what equipment they can own in their own garages. These four CRAs, led by Senators Ricketts, Husted, Schmitt, and Lummis, undo that end-run and restore a single national standard set by Congress instead of CARB regulators. We urge the full Senate to pass all four and give American consumers back the final say over the vehicles and equipment they choose. Affordability should be top-of-mind for Congress into the fall," said Brent Gardner, Chief Government Affairs Officer, Americans for Prosperity.
"Affordability is the number one issue for Latinos and Americans, and it should be top-of-mind issue for Congress. For years, California has leveraged the Clean Air Act waiver process to set burdensome regulations on everything from vehicles, gas-powered equipment, and other products. The four Congressional Review Act resolutions led by Senators Ricketts, Husted, Schmitt, and Lummis restore Congressional oversight of this process. And we urge the Senate to pass all four to give American consumers the flexibility they deserve when purchasing goods," said Sandra Benitez, Executive Director, The LIBRE Initiative.
Husted is also co-leading three additional resolutions that would:
* Overturn a waiver allowing California to impose vehicle emissions standards that are stricter than federal requirements, accelerating a nationwide shift toward electric vehicles.
* Reverse a rule imposing costly emissions requirements on small off-road engines, protecting small businesses, landscapers and homeowners from being forced to purchase expensive and impractical electric lawn and garden equipment.
* Overturn a waiver allowing California to enforce stricter greenhouse gas emissions standards for heavy-duty vehicles, reducing unnecessary costs for manufacturers and helping keep vehicles more affordable for consumers.
These resolutions build on Husted's work to lower costs for American families. Last year Husted's Congressional Review Act resolution was signed into law, overturning a Biden-era energy regulation that imposed burdensome energy efficiency standards on a wide range of household and commercial appliances.
Husted's full resolution is available here (https://www.husted.senate.gov/wp-content/uploads/2026/08/ACCI-CRA.pdf).
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Original text here: https://www.husted.senate.gov/media/press-releases/husted-gop-colleagues-lead-effort-to-reject-radical-california-vehicle-standards/
House Education & Workforce Ranking Member Scott Slams HHS Plan to Undermine Head Start
WASHINGTON, Aug. 7 -- Rep. Robert C. Scott, D-Virginia, ranking member of the House Education and Workforce Committee, issued the following news release on Aug. 6, 2026:
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Ranking Member Scott Slams HHS Plan to Undermine Head Start
Today, Ranking Member Robert C. "Bobby" Scott (VA-03) issued the following statement after the Department of Health and Human Services (HHS) announced its proposed rule to deregulate Head Start, undermining the program's quality standards among other things.
"For more than 60 years, Head Start has provided young children with high-quality early education, health
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WASHINGTON, Aug. 7 -- Rep. Robert C. Scott, D-Virginia, ranking member of the House Education and Workforce Committee, issued the following news release on Aug. 6, 2026:
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Ranking Member Scott Slams HHS Plan to Undermine Head Start
Today, Ranking Member Robert C. "Bobby" Scott (VA-03) issued the following statement after the Department of Health and Human Services (HHS) announced its proposed rule to deregulate Head Start, undermining the program's quality standards among other things.
"For more than 60 years, Head Start has provided young children with high-quality early education, healthand dental care, and healthy meals. It also connects families with services that help lift them out of poverty.
"Today, the Department of Health and Human Services announced a plan to effectively deregulate Head Start as we know it. And this is consistent with the fact that this Administration has made no secret of their desire to end the Head Start program -- a plan lifted straight from the pages of Project 2025 (page 482). The proposed regulation would undermine Head Start's educational quality standards, strip away requirements designed to ensure children meet critical benchmarks, and make it harder for English Language Learners to participate fully and engage with their peers.
"With wages failing to keep pace with the cost of living, eligible families are relying on Head Start now more than ever. It is critical that these programs be empowered to maintain the same comprehensive services that they have successfully provided to children and families for decades.
"I strongly urge the Trump Administration to abandon this harmful proposal and work with Congress to expand Head Start, not hollow it out."
Background:
On June 12, 2026, Ranking Member Scott and Senate Health, Education, Labor, and Pensions (HELP) Committee Ranking Member Bernie Sanders demanded that the Department of Health and Human Services (HHS) withdraw its proposed rule to roll back provisions that would have raised most Head Start teacher pay by $10,000 per year and ensured basic benefits for the program's full-time staff.
On July 15, 2025, Ranking Member Scott and Vice Chair Patty Murray (D-WA), Senate Appropriations Committee, reintroduced the Child Care for Working Families Act, comprehensive legislation to ensure families across America can find and afford the high-quality child care they need.
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Original text here: https://democrats-edworkforce.house.gov/media/press-releases/ranking-member-scott-slams-hhs-plan-to-undermine-head-start
Gallego, Kelly Press FAA on Flawed Phoenix Flight Path Plan
WASHINGTON, Aug. 7 -- Sen. Ruben Gallego, D-Arizona, issued the following news release on Aug. 6, 2026:
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Gallego, Kelly Press FAA on Flawed Phoenix Flight Path Plan
Senators warn proposed changes would expose tens of thousands of additional Phoenix-area residents to additional noise pollution, break past commitments to communities, and repeat mistakes of a decade-long legal battle with the City of Phoenix
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Today, Senators Ruben Gallego (D-AZ) and Mark Kelly (D-AZ) raised serious concerns with the Federal Aviation Administration (FAA)'s proposed Phoenix Area Modernization Project and
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WASHINGTON, Aug. 7 -- Sen. Ruben Gallego, D-Arizona, issued the following news release on Aug. 6, 2026:
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Gallego, Kelly Press FAA on Flawed Phoenix Flight Path Plan
Senators warn proposed changes would expose tens of thousands of additional Phoenix-area residents to additional noise pollution, break past commitments to communities, and repeat mistakes of a decade-long legal battle with the City of Phoenix
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Today, Senators Ruben Gallego (D-AZ) and Mark Kelly (D-AZ) raised serious concerns with the Federal Aviation Administration (FAA)'s proposed Phoenix Area Modernization Project andDraft Environmental Assessment. In a letter to Administrator Bryan Bedford, the senators urged the FAA to publish a revised assessment that addresses issues identified by impacted communities.
The proposed project would update flight procedures for ten Valley airports, including Phoenix Sky Harbor and Mesa Gateway. If implemented, the proposed flight-path changes would expose more than 86,000 additional people in the Phoenix area to reportable noise increases, with over 65,000 residents facing increases of 5 decibels or more, despite less disruptive alternatives being available. The City of Phoenix, the City of Mesa, the Mesa Gateway Airport Authority, and countless community stakeholders have reached out directly to share concerns directly with the FAA.
"While we share the goals of ensuring a safe and efficient airspace in the Phoenix area, we are concerned that the FAA's proposed flight procedure changes will have significant adverse effects for neighborhoods, communities, and airports across the Phoenix area," the senators wrote.
The senators pointed to a nearly decade-long legal fight sparked by similar FAA flight path changes in 2014, which ultimately required the agency to redesign westbound flight paths out of Sky Harbor and eroded community trust in the process.
"Regrettably, rather than learn the lessons from this experience, the FAA's proposed Phoenix Area Modernization Project fails to address long-standing concerns raised by key regional stakeholders, ignores requirements of the 2017 Court of Appeals ruling in Phoenix v. Huerta, and exposes an additional 86,384 people in North Phoenix, Scottsdale, and Chandler to new and unnecessary noise pollution," the senators continued.
"We urge the FAA to go further and commit to making meaningful changes to the Phoenix Area Modernization Project to address the serious concerns raised by impacted communities prior to finalizing or implementing any new air traffic procedures," the senators concluded.
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INFODOC: https://us.list-manage.com/ZUtU46xYVjK?e=db8bdd2d43&c2id=794ac04d8d4a93ed22886c823543b9b3
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Original text here: https://www.gallego.senate.gov/news/press-releases/gallego-kelly-press-faa-on-flawed-phoenix-flight-path-plan/
Gallego Introduces Bipartisan Legislation to Protect Veterans' Disability Pay
WASHINGTON, Aug. 7 -- Sen. Ruben Gallego, D-Arizona, issued the following news release:
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Gallego Introduces Bipartisan Legislation to Protect Veterans' Disability Pay
Senator Ruben Gallego (D-AZ) introduced the Restore Veterans' Compensation Act, legislation that protects veterans who receive disability benefits from the Department of Veterans Affairs (VA) from having their separation pay unfairly recouped.
"It is ridiculous to claw back money from a veteran who has put life and limb on the line, just because later in life they qualify for disability benefits," said Senator Gallego. "Separation
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WASHINGTON, Aug. 7 -- Sen. Ruben Gallego, D-Arizona, issued the following news release:
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Gallego Introduces Bipartisan Legislation to Protect Veterans' Disability Pay
Senator Ruben Gallego (D-AZ) introduced the Restore Veterans' Compensation Act, legislation that protects veterans who receive disability benefits from the Department of Veterans Affairs (VA) from having their separation pay unfairly recouped.
"It is ridiculous to claw back money from a veteran who has put life and limb on the line, just because later in life they qualify for disability benefits," said Senator Gallego. "Separationpay and disability compensation serve two entirely different purposes--one honors time served, while the other addresses workplace injuries sustained. My bill ensures we stop unfairly penalizing our heroes and guarantees that Arizona veterans keep every dollar of the benefits they have rightfully earned."
Separation pay can be given to service members when they depart the military for several reasons. For example, when members of the Armed Forces with more than six years of service meet reenlistment requirements but are not allowed to reenlist, they are eligible for separation pay. Separation pay is also used to incentivize service members to depart the military when the Pentagon is working to downsize the force.
Currently, outdated policies prohibit veterans from receiving concurrent receipt of unrelated benefit payments. Therefore, veterans who receive separation pay who later qualify for VA disability benefits have their separation pay recouped.
Read more on the issue from Military.com: Senator introduces bill to stop VA from recouping military separation pay from disabled vets.
The Restore Veterans' Compensation Act would fix this unwarranted policy through several key provisions.
Specifically, the bill would:
* No longer allow for the recoupment of separation pay from veterans who later become eligible for VA disability benefits because the two compensate for different things--workplace injuries (disability benefits) versus time served (separation pay);
* Ensure veterans who later qualify for military retirement pay only have to repay the net amount of separation pay instead of the gross amount to prevent the federal government from recouping more than the veteran received; and,
* Change the recoupment rate for retired military veterans to 25 percent of those same veterans' paycheck instead of the current 40 percent.
The bill is endorsed by the Veterans of Foreign Wars (VFW).
Click here (https://www.gallego.senate.gov/wp-content/uploads/2026/08/Gallego_Restore-Veterans-Compensation-Act-of-2026.pdf) to read the bill.
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Original text here: https://www.gallego.senate.gov/news/press-releases/gallego-introduces-bipartisan-legislation-to-protect-veterans-disability-pay/
At Hearing, Expert Witnesses Agree With Warren That Trump Selling Early Access to Truth Social Posts Not Good for Our Markets
WASHINGTON, Aug. 7 -- Sen. Elizabeth Warren, D-Massachusetts, ranking member of the Senate Banking, Housing and Urban Affairs Committee, issued the following news release on Aug. 6, 2026:
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At Hearing, Expert Witnesses Agree With Warren That Trump Selling Early Access to Truth Social Posts Not Good for Our Markets
Today, U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, delivered opening remarks and questioned witnesses at a committee hearing entitled "Empowering Main Street by Unlocking Access to Capital." Witnesses included
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WASHINGTON, Aug. 7 -- Sen. Elizabeth Warren, D-Massachusetts, ranking member of the Senate Banking, Housing and Urban Affairs Committee, issued the following news release on Aug. 6, 2026:
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At Hearing, Expert Witnesses Agree With Warren That Trump Selling Early Access to Truth Social Posts Not Good for Our Markets
Today, U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, delivered opening remarks and questioned witnesses at a committee hearing entitled "Empowering Main Street by Unlocking Access to Capital." Witnesses includedCantrell Dumas, a senior researcher for Financial Regulation and Policy at the Joint Center for Political and Economic Studies; Dalia Blass, the Senior Investment Management Partner at Sullivan & Cromwell; Kenneth Bentsen, Jr., the President and CEO of Securities Industry and Financial Markets Association; and Michael Flood, senior vice president at the U.S. Chamber of Commerce Center for Capital Markets Competitiveness.
Transcript of Ranking Member Warren's opening statement below:
Thank you, Mr. Chairman. And thank you for holding this hearing. I believe in markets. Fair and transparent markets promote innovation, they power economic growth, they give everyone a chance to thrive. The confidence that investors at home, and around the world, place in the integrity of our markets is a critical part of why our nation's economy is the envy of the world.
But under President Trump, the corruption is so massive and so unprecedented that it has fundamentally changed our markets, rigging them for the wealthy and the well-connected. Those with money and power get special treatment, while families, small businesses, and communities pay the price.
We should be working together to make our markets stronger and to ensure that they serve American businesses and American families. I know we share that goal. Our number one job--number one--should be to put a stop to this corruption and to protect investors.
Understand, the corruption is everywhere. It's been about 15 months since Paul Atkins was sworn in to lead the Trump SEC. At every turn, he has let scammers off the hook and rolled back the rules that protect investors from getting cheated. Corruption. Corruption. Corruption.
Under Trump and Chair Atkins, there is no cop on the beat to protect investors. The SEC's enforcement activity dropped by 20% last year. Chair Atkins couldn't even say under oath in this room that insider trading is bad. Fraudsters and cheats? It appears that everyone gets a free pass.
Chair Atkins is also making markets more secretive. He's slashing disclosure rules so that companies can hide just how risky they've become. He's gutting oversight and enforcement tools that help the financial cops on the beat go after insider trading, after market manipulation and other corporate crimes. He's making it easier for executives to silence shareholders and to strip them of their rights. He is even making it harder for states to protect their own citizens from being defrauded. Across the board, every day, investors are losing.
Chair Atkins rigs the rules--just one more example of the corruption that hangs over the entire Trump Administration.
This corruption costs American families and retirees, but who wins? Well, corruption is really profitable for some people.
Companies and executives whose business models are built on fraud win, while honest businesses competing on this unfair playing field lose.
Trump's billionaire buddies win. Donating big time to Trump could mean the SEC case against you just suddenly disappears.
Another Trump friend who won big? Elon Musk, who briefly became the world's first trillionaire, got his SpaceX IPO greenlit despite analysts calling the numbers "nonsensical." SpaceX got an additional boost when Elon Musk reportedly pushed some index providers to bend their rules so tens of millions of Americans are forced to have SpaceX in their retirement funds even if it injects significant risk.
And then President Trump himself is the ultimate winner. He made $1.4 billion off his major crypto ventures just last year, while nearly a million investors lost out on nearly $4 billion on Trump memecoins alone. And now, his social media company has come up with a plan to sell Wall Street firms access to his market-moving posts on Truth Social before everyone else gets to see them. And who benefits? Well, only people who can pay more than a million dollars a year for the inside scoop on what Trump will be doing. This is a brazen scheme to profit off the Presidency and it may be--and should be--flatly illegal.
How can Americans - or the world, for that matter - trust the honesty of our markets as Trump and the SEC burn our credibility?
Study after study shows that corruption significantly reduces growth and investment, even in America. There is a cost to this corruption, and we all have a responsibility to rein it in.
I have not given up on the original promise of our capital markets. We need to act before our standing in the world craters, and our people pay for this for generations to come.
Thank you, Mr. Chairman.
Transcript of Ranking Member Warren's exchanges with the witnesses:
Ranking Member Warren: Thank you, Mr. Chairman. So, this is a hearing about making capital markets stronger, so let's start with recent market news. On Saturday, President Trump's social media company began offering faster access to his social media posts to investors who pay up to $100,000 a month--that's over a million dollars a year per investor.
So, let me ask all of our witnesses here. Raise your hand if you believe that President Trump selling information about the economy and foreign policy to Wall Street before everyone else gets access to that information is good for the integrity of our capital markets?
All Witness: (fail to raise hands)
Ranking Member Warren: There we go. I see no hands, so maybe if the Republicans on this Committee wanted to strengthen capital markets, we can start by outlawing what President Trump is doing. We all know that this is wrong.
Let's look at another scam. Trump's private equity buddies have a problem--big investors are starting to head for the exits. Trump's crypto buddies also have a problem-- with billions in losses for investors. So last August, President Trump threw them a lifeline: he directed federal agencies to make it easier for private equity, private credit, crypto, and other risky assets to be shoveled into retirement accounts. The idea is to give all of those sketchy dealers access to families' 401(k)s.
Now, Mr. Dumas, you're an expert on financial regulation and its impact on working families and Black communities. Is pushing these risky assets like crypto and private equity into retirement accounts likely to help families?
Dumas: That's a very good question, Senator. Not likely. Pushing private equity into retirement accounts creates a certain risk. Private equity has less- is risky because it's less transparent, non-disclosure, and doesn't have customer protection. Digital assets also have evolved as an asset as well. There isn't evidence out there, currently, that says that cryptocurrency provides any type of wealth-building growth for, especially, for families, for ordinary families. So I think that obviously, it can, can definitely provide less wealth opportunity for families.
Ranking Member Warren: Alright, thank you. Let's look at other Trump Administration policies. When you invest in a public company, you know, like Pepsi or Apple, those companies are required to file basic financial and business information with the SEC four times a year. In May, the SEC proposed reducing those disclosures to two times a year.
Days later, the SEC proposed rules that exempt 80% of public companies from disclosures and accountability on what executives get paid.
The SEC even exempted most companies from the requirement that their auditor must swear that the company has systems in place to produce accurate financial information.
So Mr. Dumas, is getting less information less often about a company's operations helpful for working people, for mom and pop investors, or for Black communities?
Dumas: No, Senator. It's not helpful at all. Disclosure and transparency is vital for confidence in investment. Less information leaves ordinary investors in the dark. What we need is better information in order for investors to have the same amount of information as sophisticated investors have. Without that, there would be an information gap between sophisticated investors and ordinary investors.
Ranking Member Warren: Thank you, Mr. Dumas. Let me do one more. In addition to weakening the rules, Trump's SEC is taking the cop off the beat. Last year, enforcement activity dropped by over 20%, to its lowest level in nearly 20 years.
Mr. Dumas, who benefits when the SEC fails to enforce the law?
Dumas: Senator, I believe bad actors would benefit. Actually, I believe that without strong enforcement you have more of an opportunity for scammers and fraudsters to take advantage of everyday Americans. Strong enforcement provides confidence in the marketplace so that people can put more into the capital markets as well.
Ranking Member Warren: Every one of these steps is designed to help Wall Street, big corporations, and President Trump himself - not American families. Congress needs to clean this up.
Thank you, Mr. Chairman. I yield back.
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Original text here: https://www.banking.senate.gov/newsroom/minority/at-hearing-expert-witnesses-agree-with-warren-that-trump-selling-early-access-to-truth-social-posts-not-good-for-our-markets
