Ron Wyden: “I think we all understand the Tax Code is going to melt down next year.”

The proposed rule is clear regulatory overreach that would have disastrous impacts for lawfully present immigrants and their families who are legally eligible for refundable tax credits.

This throws doubt upon Treasury’s interpretation of many provisions of the Code, creates a great deal of uncertainty in the administration of our tax laws, and could balloon the deficit.

These unsung heroes deserve recognition for their tireless efforts to keep our communities safe and healthy, and I’m honored to be leading this effort in Congress.

This interpretation is wildly inconsistent with the longstanding treatment of other provisions that use identical or near-identical language.