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Trump Tweet Prompts Treasury to Review University’s Tax-Exempt Policy

trump-tweet-prompts-treasury-to-review-university’s-tax-exempt-policy

Treasury Secretary Steven Mnuchin predicts his agency will investigate the tax-exempt status of universities after President Donald Trump called for a probe earlier in July.

“Secretary Mnuchin expects that Treasury’s Office of Tax Policy will conduct a policy review of the generally applicable regulations and guidance implicated by the President’s comment,” Treasury deputy general counsel Brian Callanan told inspectors general for the department, according to The Hill.

On July 10, Trump tweeted a request to the Treasury Department to initiate a probe, saying many colleges “are about Radical Left Indoctrination, not Education.”

“Too many Universities and School Systems are about Radical Left Indoctrination, not Education,” Trump tweeted on July 10. “Therefore, I am telling the Treasury Department to re-examine their Tax-Exempt Status and/or Funding, which will be taken away if this Propaganda or Act Against Public Policy continues.”

Trump’s tweet made its way to House Ways and Means Committee Chairman Richard Neal, D-Mass, who found the comment problematic.

Neal sent letters to the IRS and to Treasury’s inspectors general noting that it’s illegal for the president to ask the IRS to investigate taxpayers.

“The President’s tweets on this matter were completely out of line. It’s disappointing that the Treasury Inspector General for Tax Administration and the Treasury Office of Inspector General appear to have asked Treasury and IRS to investigate themselves, and are taking their assertions at face value without further investigation,” Neal said in a statement.

“I expected them to do more. Despite these limited findings, I will remain vigilant on this matter.”

© 2020 Newsmax. All rights reserved.

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Written by chetday

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