OMB Review of IRS Regulations
From: The Federal Financial Forum
It is likely that OMB will begin the review of Treasury tax regulations, an exemption that should never occurred in the first place.
Having worked for more than a half century to vest OMB with the authority to review regulations I doubt whether there are any new arguments against OMB’s likely new role.
The traditional arguments include the lack of OMB expertise in the particular subject matter at hand. I heard this argument many times over when OMB (OIRA and its predecessor organizations) began to review EPA regulations under the Nixon Administration.
