Senate Subcommittee Goes Opposite House and Votes For Full SEC Funding

InvestmentNews is reporting that the Senate Financial Services and General Government Subcommittee has voted to give the SEC a $350 million budget increase for fiscal year 2015.  This starkly contrasts last week’s decision by the House Appropriations Subcommittee to slash the SEC’s budget increase to a mere $50 million.

Senator Richard Shelby, (R-AL), the ranking member of the Senate Appropriations Committee expressed concern, noting that the budget would fail to address “serious management lapses at agencies.”

The budget arguments still have a long way to go, and the House’s funding levels have been closer to the final appropriation in past years.

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