Democrats’ Inflation Reduction Act wager on the Internal Revenue Service

Democrats’ Inflation Reduction Act wager on the Internal Revenue Service

A newly empowered Internal Revenue Service is one of the keys to the sweeping climate, health care and tax bill Senate Democrats hope to pass this week — with billions of dollars in new funds for the agency so it can collect money for the federal government by going after higher-income tax cheats. The bill, known as the Inflation Reduction Act, would put $80 billion toward beefing up the IRS, in line with liberals’ long-term goals to strengthen tax collection and enforcement on corporations and high-income earners, while relieving low-income taxpayers of cumbersome and frightful audits. Some of the additional revenue would go to pay for the largest-ever U.S. investment …
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