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Baucus on IRS: 'I have a hunch that a lot more is going to come out'

“I have a hunch that a lot more is going to come out, frankly,” Baucus told Bloomberg News. “It’s broader than the current focus.”

Steven Miller, the acting commissioner of the Internal Revenue Service who was ousted earlier this week, is testifying Friday before the House Ways and Means committee in what is expected to be the first of many congressional grillings over the scandal. Baucus's Senate committee will be one of the panels investigating the wrongdoing.

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“I think it’s important that we have the hearings, and I think that will encourage other information to come out that has not yet come out,” he said. “I suspect that we will learn more in the next several days, maybe the next couple, three weeks, which adds more context to all of this.”

But the Montana lawmaker said he did not expect the investigation into the IRS targeting to distract from other legislative efforts, including broad tax reform. Some political strategists have suggested that the scandal, paired with controversies over Benghazi and the seizure of reporter phone records by the Justice Department, could keep Congress from moving forward with any major new legislation.

“This actually leads to new momentum for tax reform because this is an important provision in the code. And this provision has raised lots of questions now,” he said.

At a press conference Thursday, President Obama said he knew nothing of the scandal before White House counsel's office learned of a Treasury inspector general report in April.

"I can assure you that I certainly did not know anything about the IG report before the IG report had been leaked through press," Obama said.

The president did not directly say whether anyone else at the White House knew about the IRS's actions, though White House press secretary Jay Carney did offer that assurance earlier this week.

Obama added that his “main concern” was to fix the IRS problem.

“I promise you this,” Obama said. “The minute I found out about it, my main focus was making sure we get the thing fixed.”