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Apr
18

White House Budget Office Takes On Bigger Role In Writing Tax Regulations

From: Daily Caller

Will Racke

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Some GOP lawmakers and conservative groups had been calling for OMB to exercise more oversight of tax rules and subject the regulations to a cost-benefit analysis. They argued that more OMB control would improve the tax rules by putting them through the same kind of review that other agencies face.

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The new agreement could have major implications for a wide range of tax policies that have yet to be settled by the GOP’s tax reform law. One of the most important is how to treat so-called “pass through” businesses, which aren’t C corporations but instead file taxes as individuals.

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