The U.S. Senate Committee on Finance convened on September 10, 2025, to consider the nominations of Jonathan Greenstein for Deputy Under Secretary of the Treasury and Donald Korb for Chief Counsel of the IRS. The meeting focused on key issues regarding the roles these nominees would play in addressing significant challenges within their respective areas.

During the session, Secretary Bessent highlighted concerns about the International Monetary Fund (IMF) and the World Bank, noting that both organizations have strayed from their original missions. Greenstein, if confirmed, would oversee U.S. participation in these institutions. He emphasized the need to refocus the IMF on its core objectives, which include promoting international monetary cooperation and encouraging economic growth. Greenstein outlined three areas for improvement: enhancing macroeconomic surveillance, refining lending policies to stabilize economies, and increasing transparency in public debt.

The discussion also touched on the IRS, with Chairman Crapo raising concerns about leadership stability during critical periods, such as the tax filing season. Korb, who has a history with the IRS, acknowledged the importance of reliable leadership and addressed previous comments made during his nomination process, asserting that they were taken out of context.

Additionally, the committee discussed the Treasury's ongoing efforts to address economic practices in China. Greenstein reiterated the need for tougher surveillance on China's economy and committed to using available tools to ensure transparency and accountability if confirmed.

The meeting underscored the significant responsibilities that lie ahead for both nominees, particularly in navigating complex international economic issues and maintaining effective leadership within the IRS. The committee's recommendations will play a crucial role in shaping the future direction of U.S. financial policy and oversight.