SIFMA Escalates Lobbying Blitz on Retirement and Tax Rules
The Securities Industry and Financial Markets Association (SIFMA) filed its latest quarterly lobbying disclosure showing sustained pressure on Capitol Hill over retirement savings accounts and tax policy. SIFMA reported spending $1.93 million in the second quarter of 2026, maintaining focus on five legislative priorities that have dominated its advocacy agenda for more than a year.
The organization is pushing Congress on the Retirement Fairness for Charities and Educational Institutions Act, which would expand access to lower-cost investment options in 403(b) retirement plans for nonprofit and education sector workers. SIFMA is also lobbying on the Protecting American Savers and Retirees Act, which addresses tax treatment of securities transactions, and the Protecting the Right to Organize Act. Additionally, the group is engaged on the Investing in Our Communities Act and a Securities and Exchange Commission proposal modernizing custody rules for investment advisers handling client assets.
By the Numbers
SIFMA's in-house team remains substantial. The organization listed 20 internal lobbyists on its 2026 second quarter filing, including Lucas West, Executive Vice President and Head of Advocacy, who brings roughly a decade of prior congressional staff experience across seven congresses. West previously worked on the House Financial Services Committee and Senate Environment and Public Works Committee.
The group's lobbying strategy spans both internal capacity and external counsel. SIFMA contracted with Capitol Tax Partners LLP, Rich Feuer Anderson, and Washington Council Ernst & Young during the second quarter, with those firms reporting combined activity on tax issues affecting financial services. The $1.93 million second quarter total represents a modest increase from the first quarter filing of $1.91 million but remains below SIFMA's elevated spending in late 2025, when the organization reported $3.16 million for the fourth quarter.
The team includes Managing Directors with significant Hill backgrounds. Kevin Carson served as Chief Counsel to Senator Joe Manchin and as a Legislative Assistant to Representative Joyce Beatty. Bradley Edgell previously worked as Legislative Director for Representative James Marshall and held positions on the House Budget Committee. Jessica Barker, Vice President for Tax Policy and Advocacy, recently served as General Counsel to Senator Todd Young.
The Bottom Line
SIFMA's consistent focus on the same five issues across multiple quarters signals deep engagement on retirement access and tax policy. The organization is deploying experienced former congressional staff to navigate what appear to be technical but consequential legislative battles over how financial services firms operate within the retirement and securities regulatory framework.
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