WHITE HOUSE BUDGET OFFICE TAKES ON BIGGER ROLE IN WRITING TAX REGULATIONSㅤ
Pictured: Treasury Secretary Steven Mnuchin
ㅤ"In a joint statement, OMB and Treasury said they had reached an agreement to allow OMB to review tax rules written by Treasury. Since 1983, IRS rules had been exempt from oversight by OMB’s Office of Information and Regulatory Affairs (OIRA), which reviews the regulations of most other government agencies.
ㅤ’Under today’s agreement, Treasury will continue to swiftly and successfully implement historic tax reform while still avoiding needless regulatory costs and delays,’ Steven Mnuchin said in a statement, according to the Washington Examiner."