Dave Camp News
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Updated 52 minutes ago
Democratic Senator Carl Levin said an overhaul of the U.S. tax code would be difficult to accomplish and instead lawmakers should focus on curbing “unjustified” tax breaks.
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Updated 48 minutes ago
The almost daily disclosures by the White House about who knew about an IRS investigation before it became public has helped stoke the furor over the agency’s scrutiny of tax-exempt groups and given the president’s harshest critics an opening.
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A congressional hearing into Apple Inc.’s use of offshore tax shelters called attention to how U.S. companies lower their taxes, and underscored the difficulty Congress confronts when trying to end the practice.
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Updated 2 hours, 38 minutes ago
When Apple Inc.’s chief executive officer, Tim Cook, bragged to a U.S. Senate subcommittee this week about his company’s culture of innovation, he probably hoped people would think of Apple’s gadgets, not its tax strategies.
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House lawmakers say ousted Internal Revenue Service chief Steven Miller failed to fully explain why he didn’t inform them for more than a year that small-government groups seeking tax-exempt status were subject to extra scrutiny.
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Treasury Secretary Jacob J. Lew said in an interview with Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, that he was briefed in March on an investigation of selective IRS screening of nonprofit groups though he didn’t learn details of the findings until last week.
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Modern fiscal conservatism has wrapped itself in one whopper of a false choice: That the U.S. must decide between economic growth and the welfare state.
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The scandal at the Internal Revenue Service reinforces the case for revising the U.S. tax code, Congress’s top tax writers said in an interview with Bloomberg Television.
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Steven Miller, forced out as acting Internal Revenue Service commissioner, will be questioned today by U.S. lawmakers on what he knew about scrutiny of small- government groups and why Congress wasn’t told.
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President Barack Obama plans to choose a new acting commissioner of the Internal Revenue Service this week as the first congressional hearings begin into the agency’s selective scrutiny of small-government groups, according to an administration official.
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