WASHINGTON — U.S. Rep. David Schweikert, R-Ariz., questioned Treasury Secretary Scott Bessent during a House Ways and Means Committee hearing on the Treasury Department’s priorities.
Schweikert raised concerns about the size of the tax-exempt sector and the need for clearer reporting on whether tax-exempt organizations are meeting their public obligations.
“We calculate about 17% of the U.S. economy now is in the tax-exempt space,” Schweikert said. “And within that space, those who received the benefit of tax exemption, the basic concept is here’s the community good you’re doing for not having to pay taxes.”
Schweikert asked whether Treasury and the IRS could develop a more robust Form 990 process…