Washington, D.C., February 26, 2025 – SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on passage of a budget resolution by the U.S. House of Representatives last evening:

“SIFMA commends ongoing efforts in Congress to enact pro-growth tax reform and believes that passage of the House Budget Resolution is an important first step toward this goal shared by leaders in both chambers. SIFMA has long advocated for tax reforms that appropriately account for financial services’ foundational role in our economy and for a tax code that incentivizes and supports Americans to invest and save for retirement. Over 70% of all U.S. economic activity is funded by our capital markets through equity and debt financing, and a healthy and vibrant financial sector plays a direct role in supporting economic growth and providing capital for American companies. We look forward to continuing to work with both chambers of Congress to advance tax reforms that meet these goals.”

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SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s nearly 1 million employees, we advocate for legislation, regulation and business policy, affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.