Political Quotes

“This is an amendment to require a report from the Treasury Department on the abuse of tax-exempt status by charitable organizations. What we have seen in studies by the GAO and the IG is that many professional athletes set up charitable organizations and then use them inappropriately to pay the expenses of their lives. All we are asking from the IRS is to take a good look at this. Let's not allow this aspect of a very well-intended tax law to be utilized to skirt expenses and taxes. On March 31, 2015, ESPN investigative unit ``Outside the Lines'' released the findings of an in-depth look at 115 different charitable organizations founded by prominent athletes. They gave extensive details of that investigation. What they outlined was that 74 percent of these nonprofits fell short of one or more of the acceptable guidelines for nonprofit operating standards. That means they are operating outside the law or do not meet the requirements for a charitable organization. Yet nothing has been done about it. Here again they are asking for oversight, asking for us to do the right thing, asking us to get the money that is actually due the Federal Government. We are not going to get a vote on it. We are not going to have an ability to vote on it. We are not going to direct the IRS to actually do that and actually recapture some of the money that is actually due to the Federal Government. All it is is a study: Tell us how bad this problem is and what you are going to do about it.…”