Political Quotes

“If I could, I want to respond to a few of the Senator's items. The Senator is correct, it falls under the Finance Committee's jurisdiction. That is part of the reason why I bring this forward. The Finance Committee is undergoing an investigation that is not yet complete, so I think it would be prudent to forestall the implementation of new rules by the IRS while the Finance Committee investigation is ongoing. I think we all agree we shouldn't move forward on imprecise or incomplete information. That is why we are simply saying we are not proposing a rule, we are saying simply delay the new rule until investigations can be completed. Also, with regard to the issue of fairness, I should note that this applies to 501(c)(4) organizations, nonprofit organizations. There are other organizations that are also nonprofit but are not included in this proposed rulemaking--for example, labor unions. They offer, under a nonprofit status as well, a 501(c)(5). They are not included here. The Senator correctly says we should be concerned about fairness for all groups that are under this kind of nonprofit umbrella. That is concerning to a lot of people as well, because those organized under 501(c)(4) status are targeted here when those organized under (c)(5) status are not, when they have some of the same restrictions on what they can do. So we would be imposing new rulemaking and new rules on some organizations and not others.…”