Here is the Best Reason for OIRA Review of IRS Tax Rules

Since its inception there has been a  heated debate concerning OIRA review of Treasury Tax rulings. Read the following story from the New York Times; it ends the debate. It  is time that the Biden Administration provide OIRA with the added staff needed to perform the task.

Without taking a position on the facts behind the NY Times story, hopefully the opposition arguments  of the past advanced by the tax bar have been finally laid to rest; there is a definite need for an independent review at Treasury tax rules.

ESG Investing and Fiduciaries—A Forced Marriage?

The Biden Administration is working on a regulation which will reverse a Trump regulation which restricted the ESG program.

The forthcoming Biden regulation is a pacesetter because:

  • It is a formal rulemaking issued by the Department of Labor
  • Virtually  every major player will submit comments, and
  • Most importantly there is a private sector enforcement mechanism which could keep the participants honest.
Private Sector Enforcement Mechanism

Here is the textbook definition of an ESG Investment Fund: