House Freedom Caucus member Rep. Ron DeSantis (R-Fla.) said when it comes to which agency should be overseeing and writing the new tax law's regulations, the Office of Management and Budget (OMB) and Treasury will be friendlier to the taxpayer.
Continue Reading Below
“I have no confidence that the IRS will do the right thing by taxpayers,” he told FOX Business’ Maria Bartiromo on “Mornings with Maria.”
For the past three decades, tax regulations have traditionally been reviewed by the Treasury Department and IRS, but some Republican lawmakers are calling on the OMB to review the legislative process, according to the Wall Street Journal. This comes as the OMB and Treasury say they are reviewing the “scope and implementation” of the existing process.
The benefits of President Trump’s sweeping tax overhaul have already begun to infiltrate the U.S. as corporations hand out company bonuses and begin to report better earnings. However, many of Trump’s policies have been met with institutional resistance, said DeSantis.
“The IRS, when you think of the Washington swamp, that permanent IRS bureaucracy is a big part of that,” DeSantis added.