New Rangel Rule Bill Would Eliminate IRS Interest and Penalties

Washington, Jan 28 -

IRS Penalties and Interest Eliminated for All U.S. Taxpayers under new “Rangel Rule” Legislation

(WASHINGTON, DC) – All U.S. taxpayers would enjoy the same immunity from IRS penalties and interest as House Ways and Means Chairman Charles Rangel (D-NY) and Obama Administration Treasury Secretary Timothy Geithner, if a bill introduced today by Congressman John Carter (R-TX) becomes law.

Carter, a former longtime Texas judge, today introduced the Rangel Rule Act of 2009, HR 735, which would prohibit the Internal Revenue Service from charging penalties and interest on back taxes against U.S. citizens. Under the proposed law, any taxpayer who wrote “Rangel Rule” on their return when paying back taxes would be immune from penalties and interest.

“We must show the American people that Congress is following the same law, and the same legal process as we expect them to follow,” says Carter. “That has not been done in the ongoing case against Chairman Rangel, nor in the instance of our new Treasury Secretary Timothy Geithner. If we don’t hold our highest elected officials to the same standards as regular working folks, we owe it to our constituents to change those standards so everyone is abiding by the same law. Americans believe in blind justice, which shows no favoritism to the wealthy or powerful.”

Carter also said the tax law change will provide good economic stimulus benefits, as it would free many taxpayers from massive debts to the IRS, restoring those funds to the free market to help create jobs.

No one is above the law. Expecting constituents to abide by one set of laws while representatives work with another, is completely unconstitutional and unethical. I still cannot believe we have someone running the IRS who couldn't pay his own taxes...that Turbo Tax is tricky! (Are you kidding me?) How is he going to have any credibility with the American people? Now if the "Rangel Rule"is approved, we can all benefit from Charlie and Tim's unlawful decisions...er, "mistakes."