Grassley on Treasury Secretary Confirmation; Cites IRS Whistleblowers, Wind Energy Production Tax Credit, Tax Reform as Priorities
Sen. Chuck Grassley of Iowa is a senior member and former chairman of the Finance Committee, with jurisdiction over the Treasury Department and the IRS. Grassley made the following comment on his vote to confirm Steven Mnuchin as Treasury secretary.
“As the author of the provisions improving the incentives for whistleblowers to come forward about large dollar tax fraud, I was glad to receive a commitment from Mr. Mnuchin in support of a strong IRS whistleblower function. Whistleblowers have helped the IRS recover $3.4 billion that otherwise would have been lost to fraud. Cracking down on big dollar tax fraud is a matter of fairness to the vast majority of taxpayers who pay what they owe. The IRS has made progress in working with whistleblowers, but there’s more work to be done.
“Mr. Mnuchin said he supported a smooth transition for and certainty of the congressionally established phase-out of the wind energy production tax credit. These are necessary for a fast-growing industry that supports numerous jobs in Iowa and elsewhere around the country. The industry needs to be able to maintain its successful growth even as its tax credit phases out.
“As Treasury secretary, Mr. Mnuchin will play a key role in what I hope will be comprehensive tax reform for individuals and businesses. Tax fairness and keeping the United States competitive with our global counterparts are critical to economic growth and job creation. I’ve often said that a major undertaking like tax reform requires the President’s use of his bully pulpit to rally support behind a plan from Congress and the American people. There’s an opportunity to do that with a new administration. The Treasury secretary will be critical in offering technical expertise and working with Congress on tax reform.”