Grassley Petitions IRS to Not Apply Gift Tax on McGwire's Homerun Ball
Iowa Senator Goes to Bat for "Common Sense"
Sen. Chuck Grassley of Iowa today joined Sen. Kit Bond of Missouri in a petition to the IRS Commissioner to not apply the federal gift tax to any fan who returns a homerun ball to St. Louis Cardinal Mark McGwire.
Grassley is a member of the Senate subcommittee charged with IRS oversight. He co- authored the bill which led to the comprehensive IRS overhaul legislation passed by Congress and signed by the President this year.