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February 23, 2021

Adeyemo nomination hearing held in Finance Committee

The Senate Finance Committee held a hearing on the nomination of Adewale O. Adeyemo to be Treasury Deputy Secretary February 23, during which he and members expressed a shared interest in working with the OECD on a multilateral approach to global taxation and in using tax policy and other tools to better deliver benefits to underserved communities.

Chairman Ron Wyden (D-OR) said Adeyemo is an ideal candidate for the position and is widely regarded as "knowledgeable, dedicated, and effective;" that he has discussed with him Committee priorities like Treasury's role in fighting climate change and taking new approaches to address racial disparities baked into economic policies; and that he will do what he can to move the nomination through the Senate quickly. Wyden said he looks "forward to working with Mr. Adeyemo and the Treasury Department on the issue of shell companies. It didn't get a lot of front-page headlines, but late last year Congress passed landmark legislation to end the use of anonymous shell companies in the United States."

Adeyemo said in an opening statement, "If confirmed as Deputy Secretary of the Department of the Treasury, my focus will be advancing policies that provide everyone access to the same economic opportunities I have enjoyed."

The attached Tax Alert has additional details. Testimony and statements are available here.


Contact Information
For additional information concerning this Alert, please contact:
Washington Council Ernst & Young
   • Any member of the group, at (202) 293-7474.


Adeyemo Nomination Hearing