Last Tuesday, Sen. Jeff Flake (R-Ariz.) became the latest member of Congress to propose a legislative response to the IRS scandal.
Flake introduced the Protect Against Ideology-Based Targeting Act, which would prohibit the IRS from reviewing the tax-exempt status of groups based on political ideology.
"Having run a 501(c)(3) organization, I recognize the danger with this kind of targeting by the IRS," Flake said. "We cannot allow it to continue, regardless of the political party in power. There is no excuse for this kind of behavior from our government." Read More
New SEC Chief Mary Jo White Begins Job With Pressure to Tackle Rules
Her pictures are not even on her office wall yet, but Mary Jo White already is getting pulled into an arena in which she’s untested: writing regulations.
Since she took over as head of the Securities and Exchange Commission a month ago, Congress has pressed the former federal prosecutor to pump out long-overdue financial regulations required by the Dodd-Frank Act and rewrite key rules that govern the capital markets. This week, lawmakers are applying more pressure to get the job done — on their terms. Read More