Key Takeaways
- Kamala Harris may nominate Gary Gensler as Treasury Secretary.
- Republicans are expected to oppose Gensler’s potential nomination.
- Gensler could step down from the SEC before the 2024 election.
SEC Chairman Gary Gensler may be nominated as Treasury Secretary by Vice President Kamala Harris if she wins the 2024 election. According to senior Senate staffers, Gensler could be positioned for the role, a move Republicans are already prepared to oppose. Representative Tom Emmer (R-Minn.) criticized Gensler’s performance as SEC Chair, stating,
Gary Gensler needs to move on. His career in government should be over.
The speculation also involves a “Gensler plan” where Gensler could leave his SEC post early, allowing President Biden to appoint a successor. This could secure a Democratic majority on the SEC Commission by 2025. Some believe Gensler could return as a commissioner, paving the way for Caroline Crenshaw to take over as chairperson.
Democratic lawmakers Elissa Slotkin and Ruben Gallego, who are backed by the pro-Bitcoin group Fairshake PAC, might play a pivotal role in Gensler’s confirmation process. Their stance on his potential nomination remains unclear, as they have yet to comment publicly.
Amid this speculation, Gensler has not confirmed any plans to leave his position at the SEC.
