Republican Rep. Trent Franks, the chairman of the House Financial Services Committee, announced Wednesday that the House Oversight and Investigations Committee is launching an investigation into how the IRS improperly allowed some of its most vulnerable employees to take out large loans, in violation of the IRS Code of Conduct and the Constitution.
The investigation will look into the improper use of the loan programs and whether the IRS did enough to stop the fraudulent loans, which occurred as soon as the IRS was created in 2010.
“The IRS needs to be held accountable for its actions,” said Franks, who is the first Republican lawmaker to declare a probe into the matter.
“They need to be removed from office.”
The IRS did not immediately respond to a request for comment.
The Oversight and Investigation Committee is a House subcommittee charged with conducting oversight of the federal government, which includes both the Department of Justice and the Department Of Health and Human Services.
The IRS, which is part of the Department for Homeland Security, is a part of HHS.
Franks said the IRS should be held fully accountable and should pay for any damages caused by its misconduct.
The Treasury Department oversees the Federal Deposit Insurance Corporation, which provides FDIC insured deposits for the federal debt.
The Department of Homeland Security also manages the Federal Emergency Management Agency, which operates the federal response to natural disasters, terrorist attacks and pandemic emergencies.
The Inspector General for the Department, which oversees the IRS, is the watchdog agency of the Treasury Department.
The House Oversight Committee is one of the largest and most powerful congressional oversight committees in the country.
The committee has a $20 billion budget and an office in Washington, D.C. The Justice Department and the Treasury also are part of that oversight committee.
Franks has been outspoken in his criticism of the government and has called for an investigation by Congress into the IRS.
The tax agency has been under scrutiny for a number of years because of what he has described as the agency’s “outrageous” use of taxpayer money to pay for private conferences.
In 2015, Franks announced that the IRS had made $10 million in improper use-of-taxpayer money payments to former employees, and he has repeatedly called for the IRS to be fired.
The agency has denied wrongdoing.