Tax Rules Exempt From White House Review Under New Pact (1)

Tax regulatory actions will no longer be subject to White House review under an agreement between the Biden administration’s Treasury Department and the Office of Management and Budget.

The memorandum of agreement, dated June 9, takes effect immediately and supersedes a 2018 agreement under the Trump administration between Treasury and OMB. It exempts from the OMB’s Office of Information and Regulatory Affairs’ standard centralized review process “tax regulatory actions, defined as a regulatory action (as defined by Executive Order 12866) issued by the Internal Revenue Service whether pursuant to Title 26 of the United States Code or with respect to ...