Senator Cassidy questions IRS nominee on shrimp dumping and ERTC fraud concerns
September 10, 2025 | Finance: Senate Committee, Standing Committees - House & Senate, Congressional Hearings Compilation
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In a recent Senate Finance Committee meeting, the nominations of Jonathan Greenstein for Deputy Under Secretary of the Treasury and Donald Korb for Chief Counsel of the IRS were discussed, highlighting key issues affecting American businesses and educational initiatives.
One significant topic raised by Senator Bill Cassidy focused on the impact of international shrimp imports on domestic producers, particularly in Louisiana. Cassidy expressed concerns that the U.S. has not opposed development funding for shrimp aquaculture projects that favor foreign competitors, which he argues harms local shrimp farmers by driving down prices and leading to bankruptcies. Greenstein acknowledged these concerns and emphasized his commitment to addressing unfair trade practices, aligning with the previous administration's "America First" policy.
Another critical discussion centered on the implementation of a new educational tax credit, which will provide families with a $1,700 tax benefit for school choice starting in 2027. Senator Cassidy questioned Korb on how he would ensure timely guidance for this initiative, given past delays in IRS regulations. Korb assured the committee that he would prioritize timely guidance to support the successful rollout of this program, drawing on his previous experience in similar situations.
Additionally, Senator Catherine Cortez Masto raised alarms about the IRS's handling of Employee Retention Tax Credit (ERTC) claims, which have surged amid concerns of widespread fraud. Korb acknowledged the challenges posed by the ERTC program, noting that while it was initially beneficial, it became problematic when oversight diminished. He indicated a willingness to review the IRS's current processes to prevent improper payouts.
The discussions during this meeting reflect ongoing efforts to address the needs of American businesses and families, with a focus on fair trade practices and educational opportunities. As the nominees await confirmation, their responses suggest a commitment to tackling these pressing issues that directly affect communities across the nation.
One significant topic raised by Senator Bill Cassidy focused on the impact of international shrimp imports on domestic producers, particularly in Louisiana. Cassidy expressed concerns that the U.S. has not opposed development funding for shrimp aquaculture projects that favor foreign competitors, which he argues harms local shrimp farmers by driving down prices and leading to bankruptcies. Greenstein acknowledged these concerns and emphasized his commitment to addressing unfair trade practices, aligning with the previous administration's "America First" policy.
Another critical discussion centered on the implementation of a new educational tax credit, which will provide families with a $1,700 tax benefit for school choice starting in 2027. Senator Cassidy questioned Korb on how he would ensure timely guidance for this initiative, given past delays in IRS regulations. Korb assured the committee that he would prioritize timely guidance to support the successful rollout of this program, drawing on his previous experience in similar situations.
Additionally, Senator Catherine Cortez Masto raised alarms about the IRS's handling of Employee Retention Tax Credit (ERTC) claims, which have surged amid concerns of widespread fraud. Korb acknowledged the challenges posed by the ERTC program, noting that while it was initially beneficial, it became problematic when oversight diminished. He indicated a willingness to review the IRS's current processes to prevent improper payouts.
The discussions during this meeting reflect ongoing efforts to address the needs of American businesses and families, with a focus on fair trade practices and educational opportunities. As the nominees await confirmation, their responses suggest a commitment to tackling these pressing issues that directly affect communities across the nation.
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