First, a tax update: Boeing’s Curtis Beaulieu will be Speaker Mike Johnson’s new tax adviser after Derek Theurer’s exit for the Treasury Department, the speaker’s office confirmed. Politico first reported the hire. Beaulieu is a former Senate Finance Committee tax aide.
Now, onto Banking: Senators advanced a bill that would federally regulate stablecoins for the first time in the United States with bipartisan support.
The GENIUS Act was approved this afternoon by the Senate Banking Committee on an 18-6 vote. Democratic Sens. Mark Warner (Va.), Andy Kim (N.J.), Ruben Gallego (Ariz.), Lisa Blunt Rochester (Del.) and Angela Alsobrooks (Md.) backed the bill over the objections of Ranking Member Elizabeth Warren (Mass.).
Chair Tim Scott (R-S.C.) hailed the markup as “historic.”
