A bipartisan group of four senators has sent a series of letters to the Treasury Department pushing for relief for money market fund investors from tax rules that will take effect if the Securities and Exchange Commission proceeds with its proposal to require some funds to float their share price, Reuters reports.
The three letters, dated July 15, were sent by Senators Bob Menendez (D-N.J.), Mark Warner (D-Va.), Pat Toomey (R-Pa.) and Mike Crapo (R-Idaho), all of whom sit on congressional committees with jurisdiction over the SEC and the Internal Revenue Service. They asked the Treasury Department to quickly release guidance on the issue to help inform the public and the Commission as it works toward reforms, Reuters reports.
