Investigation of Rule Change

Sen. Grassley has called for an investigation into a Treasury Department rule change, according to The Post.

The controversy revolves around a five-sentence notice issued by the Treasury on Sept. 30, as Congress was absorbed in the Bush administration’s request for a $700 billion bailout of the banking industry. The provision, known as Section 382 of the tax code, limited a kind of shelter arising in corporate mergers. 

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