[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":72,"_74":72},"mediaId",6128058,"mediaKeyId","5752716-10ff3e0947a94e6d316452932e120b81","parentId",5752716,"title","Senate Finance panel presses Greenstein on IMF focus, China currency and tariffs","audioSeconds",5316,"startMs",1129000,"endMs",6445000,"viewUrl","/Search/View?dp=1&key=5752716-10ff3e0947a94e6d316452932e120b81&start=1129&end=6445","thumbnailUrl","https://assets.pipeline.soar.com/5752716-10ff3e0947a94e6d316452932e120b81/thumbnail_1129000.jpg","articleUrl","/articles/6128058/Senate-Finance-panel-presses-Greenstein-on-IMF-focus-China-currency-and-tariffs","mediaUrl","https://secure.pipeline.soar.com/6128058-fe6d29d49298491db82d543ee02fc8a8/orig.mp4?Expires=1770511512&Signature=j3yiNmH7Ys5r71BC2SAyWAs73vaysTz1jf~PzEiC-ydgfB0JuCEG49VyE1uGTCOSENGRneXrvY698Z3NTwnStoqgOhgKqcRDGYXlSlrJT7kxSLbgu8b2zz2oFNDToDLkQvxmkWyex-iLJLDH-IEj1z4nCpU5LLHvzy8H-AAD~oIixkaivKo5pigA6Qbi7OpIdNJFr9Y~I--zxQuQUkCXjlg9TW5FbuYvEauUxvjzkNoRLPHoM2XQeNYDMGmAaSVmePml9ADbxt2uGChEaqXZB4-dzXVZGQkEQ3fZoAvpXRa5K6UAp4tC9PuC0iDSj-rPzO8JyKRpavIGXcCtO0wX2g__&Key-Pair-Id=KUT5TJCACFTXG","author","US Senate Committee on Finance","date","2025-09-10T00:00:00Z","article","Jonathan Greenstein, President Trump's nominee to be deputy under secretary for international finance at the Treasury Department, told the Senate Finance Committee he would use the United States' shareholder position to press multilateral organizations to return to their core mandates and to step up surveillance of currency practices.

Greenstein said, \"we have the opportunity to use our position, to push the IMF to refocus on its core mission, promoting international monetary cooperation, facilitating the balanced growth of international trade, encouraging economic growth, and discouraging harmful macroeconomic and financial policies such as currency devaluations.\" He also told senators he would work with the committee and Treasury colleagues to address trade imbalances and foreign-exchange opacity.

Why it matters: the deputy under secretary oversees U.S. policy and representation at the IMF, World Bank, the G7 and G20 — institutions that shape lending, surveillance and global financial rules. Senators said those decisions affect U.S. exporters, farmers and industries and asked how the administration's trade and tariff policies interact with Treasury's international financial work.

Committee exchanges covered three main areas. First, on multilateral institutions: Greenstein said the United States, as the IMF's largest shareholder, can push for \"stronger analysis\" in macroeconomic surveillance, better lending outcomes and more transparency on public debt. He told Chairman Mike Crapo the Treasury would \"push the IMF to refocus on its core mission\" if he were confirmed.

Second, on China and currency policy: Senators asked what Treasury is doing about China's exchange-rate transparency and alternative payment systems. Greenstein said he shared concerns about China's economic imbalances and said Treasury's foreign-exchange report could support designations when evidence indicates intervention. He added the U.S. should also evaluate improvements to U.S. payment systems to reduce foreign alternatives' appeal.

Third, on tariffs and trade impacts: multiple senators pressed Greenstein on whether U.S. consumers and businesses pay the president's tariffs. Greenstein repeatedly deferred tariff specifics to the administration's trade team and said his portfolio would focus on non-tariff measures such as currency practices. Senator Ron Wyden and others warned that tariffs have raised costs for farmers and manufacturers and said Treasury officials should be candid about those economic effects.

Senators also raised specific World Bank and regional-lending concerns. Senator Bill Cassidy asked whether U.S. directors should oppose projects that U.S. producers say result in dumped imports — citing shrimp aquaculture lending to Ecuador — and Greenstein said he shared the concern and would work with members where his portfolio permitted.

On implementation timing, senators asked about administrative guidance for tax provisions tied to climate and energy credits (for example, the clean fuels credit under Internal Revenue Code §45Z). Greenstein referred detailed timing questions to the Office of Tax Policy and said he would coordinate with Treasury colleagues if confirmed.

Chairman Crapo closed by thanking both nominees and saying he looked forward to voting in favor of the nominations. The committee set a deadline for written questions for the record.

The hearing produced no formal committee action during the session; senators asked multiple follow-up questions and sought written responses for the record.","mediaType","Video","parentTitle","Hearing to consider the nominations of Jonathan Greenstein (Deputy Under Secretary of the Treasury) and Donald Korb (Chief Counsel, IRS & Assistant General Counsel, Treasury).","oneSentenceSummary","Jonathan Greenstein, President Trump's nominee to be deputy under secretary for international finance at the Treasury Department, told the Senate Finance Committee he would use the United States' shareholder position to press multilateral organizations to return to their core mandates and to step up surveillance of currency practices.","taxTitle","Finance: Senate Committee, Standing Committees - House & Senate, Congressional Hearings Compilation, Legislative, Federal","taxId",1993,"location","","headline","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":72,"_73":72,"_74":72},6128055,"Senators press Korb on IRS privacy, whistleblowers, ERTC fraud and past remark saying an official \"should have been shot\"",4838,1197000,6035000,"/Search/View?dp=1&key=5752716-10ff3e0947a94e6d316452932e120b81&start=1197&end=6035","https://assets.pipeline.soar.com/5752716-10ff3e0947a94e6d316452932e120b81/thumbnail_1197000.jpg","/articles/6128055/Senators-press-Korb-on-IRS-privacy-whistleblowers-ERTC-fraud-and-past-remark-saying-an-official-should-have-been-shot","https://secure.pipeline.soar.com/6128055-63796f081041160f2f25da12f7c248d1/orig.mp4?Expires=1770511512&Signature=F4tG9PwiKJJGtXYHkrNywIWl1ffxrzi50IXYi~yME-hm8M2SNx0VWEjqGehFZeTJMJlrtvh6l98WUVSiVfpVAcbhNUpbttC4LKHO-z-YlHz4nXQQETdBgH0Oq5xn2WODpilzXewOF0ieb1iPDRyRPOz9Tvb7y3OkR5dtuBUKHb6i3ed10Lfkn1JD2XWqnyg55IRIQmY0qIKXcQ10em4HyoRRWhIaUETDsGH3umlqF0X1~ni9wv9f4WFna3ga-hom6Cct~lLTUe97MeJ4F1CTImA0kmapNW~r3eqzEufNtJLZUbTsCt2WvCQWRZetrRRyCVPI-eE0isqr2kmoEedRrw__&Key-Pair-Id=KUT5TJCACFTXG","Donald Korb, President Trump's nominee to return as chief counsel for the Internal Revenue Service, faced sustained questioning on taxpayer privacy, the whistleblower program, a controversial comment he made to committee staff and the timing of guidance for multiple tax changes.

Korb, who previously served as IRS chief counsel from 2004 to 2008, told the committee, \"The words, that, Senator Wyden was referencing are taken out of context from a larger discussion being had at the time, and they were clearly used merely as a figure of speech.\" He added that he cares \"deeply about the IRS\" and pledged that if confirmed he would \"follow the law.\"

Why it matters: the IRS chief counsel advises the commissioner and shapes legal guidance and enforcement priorities. Senators from both parties pressed Korb on how he would handle politically sensitive directives, improper disclosures of taxpayer returns, and long delays in whistleblower claim processing.

Senators asked Korb to respond to several specific concerns. On taxpayer privacy and alleged pressure to disclose returns to Immigration and Customs Enforcement, Korb stressed his commitment to taxpayer rights and said he would prioritize \"correct and impartial interpretation of the Internal Revenue laws.\" On whether a chief counsel approving improper disclosure of returns should be prosecuted, Korb declined a direct policy answer and emphasized that court findings and legal questions must be respected.

On whistleblowers, Korb agreed to work with Senator Chuck Grassley and the whistleblower office to address processing delays and to explore claim disaggregation to speed awards. Grassley asked Korb to help restore predictability and fairness with respect to Revenue Ruling 2024-14, a guidance instrument dealing with partnership transactions; Korb said he would be briefed and work with Treasury's Office of Tax Policy to determine next steps.

Senators also pressed Korb on the employee retention tax credit (ERTC) fraud wave and on corporate-tax provisions in the reconciliation legislation. Korb said he would \"work very closely with the Office of Tax Policy and the Treasury Department to make sure that timely guidance is provided\" and repeatedly pledged to follow statutory requirements, including the corporate minimum tax enacted in 2022.

Several senators, led by Senator Ron Wyden, repeatedly returned to Korb's reported remark that an official \"should have been shot\" when discussing a resignation of an acting IRS commissioner; Wyden said that comment raised questions about political motives and judgment. Korb said the remark was figurative, apologized for any misunderstanding of tone, and reiterated that he would maintain professional standards if confirmed.

Korb also addressed enforcement fairness and personnel pressures, telling Senator Sheldon Whitehouse that he would not be \"swayed by people who are not in the agency telling me what to do\" in matters of employee discipline.

The hearing produced no formal committee action. Korb committed to follow-up work with senators and Treasury officials and to provide written responses where appropriate.","Donald Korb, nominee for IRS chief counsel, defended past remarks and pledged to follow the law, work with the whistleblower office and coordinate with the Office of Tax Policy on guidance timing; senators pressed him on taxpayer privacy, disclosures to ICE, revenue ruling 2024-14 and enforcement fairness.","actionData","errors"]

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Senate Finance panel presses Greenstein on IMF focus, China currency and tariffs

Senators press Korb on IRS privacy, whistleblowers, ERTC fraud and past remark saying an official "should have been shot"