U.S. Congressman Charlie Rangel (D-NY)may lose his position as head of the powerful House Ways and Means committee following news that he failed to report income on a Dominican resort property he occasionally rented out.
His lawyer, Lanny Davis, said that Rangle didn't declare about $75,000 in rental income from his villa with panoramic ocean views at the Punta Cana Yacht Club.
Rangel will apparently use the "my wife was in charge of finances" defense.
Davis told NyPo that Rangel thought he didn't have to declare the income for a variety of reasons, including that his wife, Alma, handled their finances, so he never saw the sporadic statements.
Since the House Ways and Means Committee writes tax law, for the head of the committee to fail to report all his income, is a bit akward for the committee. The write all the tax laws you want, but never report the income philosophy is causing Republicans to take notice.
"Charlie Rangel is the designated leader on tax policy in the Democrat-led Congress, but while he is authoring massive tax hikes to exact on middle-class Americans, he is apparently dodging the IRS at all costs," said Ken Spain, spokesman for the National Republican Congressional Committee.