By Luana Wang
Last year the IRS announced its intent to make new rules governing nonprofit political activity. These rules have been much anticipated and welcomed by many, though they will not be in place for 2016.
Some might say that pushing the new rules until after the 2016 election is a sign of weakness from the IRS, but let’s put that into perspective.
We’ve known for months and months that the new rules would not apply to the 2016 elections. Commissioner John Koskinen stated that fact bluntly in a hearing, and really, the pace of the rulemaking process would allow anyone to that infer logically. And though significant threats and criticisms have attempted to intimidate the IRS into withdrawing these rules altogether, the IRS has continued to work on these important regulations.
Some examples of what they have dealt with:
- The Lois Lerner controversy has shockingly been dragging on for more than two years now (more than fifteen dog years!). More than $20 million went into the IRS Inspector General’s latest investigation into Republican allegations of intentional destruction of evidence by the IRS, which ultimately found that such allegations were unsubstantiated.
Bankers crashed the economy six years ago. Congress approved reform exactly five years ago to deal with the fallout. Yet the Securities and Exchange Commission (SEC) and our other regulatory watchdogs have yet to erect many of the guard rails needed to prevent another calamity.
Title 9 of the Dodd-Frank Wall Street reform Act is focused on reigning in out of control Wall Street executive pay practices — those misplaced incentives that pushed bankers pursuing larger bonuses and rewards to take some of the riskiest gambles in the lead up to the crash. This reform made the SEC (and other agencies) responsible for creating a host of important corporate governance rulemakings — including disclosure requirements, clawbacks, changing the structure of bonus pay completely and correcting the system that incentivizes systemically risky behaviors with dangerous market consequences.
Unfortunately, we have seen stark delays in the bulk of these rulemakings, including some that seem to most to be outrageously simple. Chief among these is the long-delayed executive-compensation rule requiring that companies disclose the pay gap between chief executives and their employees. The agency proposed the rule in 2013 but has yet to complete it.
By Andrew Gibson
This Saturday, our nation celebrates the 239th anniversary of the signing of the Declaration of Independence. This day should be used to reflect on the ideals and principles upon which this country was founded so as to remind us of the work still to be done in order to achieve goals enshrined in that all-important document.
The Declaration of Independence affirms America’s self-governance. It states that “governments […] derive[e] their just powers from the consent of the governed,” and that all are treated equal under the law. As Public Citizen strives to ensure that all citizens are represented in the halls of power, our members and supporters should keep the founders’ philosophy in mind as we celebrate America’s birthday with our family and friends.
They represent the interests of the tobacco industry,” said Dr. Vera Luiza da Costa e Silva, the head of the Secretariat that oversees the W.H.O treaty, called the Framework Convention on Tobacco Control. “They are putting their feet everywhere where there are stronger regulations coming up.
The big footprint mentioned by Dr. Luiza da Costa e Silva, in today’s New York Times piece, “U.S. Chamber works Globally to Fight Anti-Smoking Measures” is that of the U.S. Chamber of Commerce and their affiliated American Chambers abroad.
The Chamber is a U.S. trade association with an annual revenue of $165 million. It spends more on lobbying than any other interest group in the country and has more than 100 affiliates around the globe. The U.S. Chamber’s positions on public policies around the world, including public health policies, are often perceived as carrying the weight of the U.S. business community. As such, disregarding their positions can carry an implied economic threat.
The influence peddling of the Chamber is evident in many international fights, so it’s unsurprising that pushing back on tobacco control is a top priority for the corporate group. A top executive at the tobacco giant Altria Group serves on the chamber’s board, though the cigarette makers’ payments to the chamber are not disclosed.