News
Politico | Roger Wicker: ‘Cold water’ hits tax reform
Mississippi GOP Sen. Roger Wicker, one of the targets of the White House’s charm offensive, said the trio of controversies dominating conversation in Washington this week could hurt efforts to reach bipartisan deals on the budget and tax reform.
Washington Times | Obama pushes out IRS chief, pledges to fix tax agency; move unlikely to end scandal
President Obama forced acting IRS Commissioner Steven Miller to resign Wednesday and said he will cooperate fully as he and Congress try to clean up the tax agency after it admitted targeting conservative groups for extra scrutiny during last year’s campaign season.
Econ Comments & Analysis
Washington Times | An opportunity to abolish the IRS
The news that the Internal Revenue Service (IRS) has targeted Tea Party and conservative groups has come as a huge shock to Republicans. “How could this happen,” Republican lawmakers have wailed. Democrats, however, are only upset that Tea Party groups fought back and that the IRS‘ actions were exposed.
CATO | IRS’s Soaring Budget and Refundable Tax Credits
Chris Edwards showed that the Internal Revenue Service’s budget has been soaring and the main culprit is refundable tax credits. The magnitude of refundable tax cuts is obfuscated in the IRS’s budget because only the refunded portion of the credit shows up as an outlay —the rest is recorded as a reduction in revenues.
