Monday, February 6, 2023
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IRS rules will regulate secret money in politics

If you believe the headlines, the comments on the IRS's new proposal to regulate political spending by "social welfare organizations" have turned into an all-out brawl, with nearly everyone, on the left and right, attacking the agency for trying to squash freedom.

That makes for interesting headlines, but it's far from accurate. To date, the IRS has received more than 70,000 comments.

And, indeed, a good number of those comments reflect the passionate opposition that certain constituencies hold for this effort. Importantly, however, many of the most important civic engagement, campaign finance, and philanthropic groups and experts in the country support this effort.

(Read more: Big steps toward curbing overseas tax evasion)

They agree that the pending IRS rule-making process is a very good start on the important objective of reducing the growing and corrosive influence of secret money in our elections.

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