Chinese Company Bets on Major U.S. Meat Business
Last week, Smithfield Foods, the largest producer of pork in the country, announced that the company would be acquired by Shuanghui International, a Chinese-based food company. I’ve led efforts in Congress to keep agricultural markets competitive for market participants and consumers. So, there are three areas I’ll be looking at when analyzing this deal. My first concern is how the acquisition will affect...
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Bringing the IRS to Account
At my 10 town meetings in northwest Iowa last week, two questions came up regularly: What is going on at the IRS, and will Congress be able to fix whatever led the agency to target tax-exempt groups over their political views? My answer: Congress has the constitutional responsibility to perform checks and balances on the executive branch, and Congress has to do its job here. I’ve already
written to the IRS and will continue to seek answers from the IRS and the Administration about the targeting. The IRS must enforce tax laws fairly and uniformly. All taxpayers should pay what they owe, not a penny more, not a penny less. Tax exemption is a privilege, not a right, because any tax-exempt group that doesn’t pay taxes enjoys that special...
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