House Republicans have proposed a plan to trim the SEC’s budget and cut enforcement funding for a Biden-era rule requiring public companies to quickly report cyberattacks.
US House Republicans are seeking to cut the Securities and Exchange Commission’s 2026 budget by 7%, while axing funds for enforcing a Biden-era rule that requires public companies to disclose cyber incidents.
A House Appropriations subcommittee voted to move forward a $23.3 billion funding plan on Monday, laying out proposed fiscal year 2026 budgets for multiple agencies including the SEC and Treasury.
The plan would see the overall budget cut by nearly 8%, or around $410 million, compared to fiscal year that ends on Sept. 30. The subcommittee’s chair, Dave Joyce, claimed the measure would help with “reining in wasteful spending.”
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