Political Quotes

“I include in the Record a letter from Secretary Yellen to the IRS Commissioner, directing the IRS not to use any additional funding to increase audits on small businesses and households earning less than $400,000 a year. Department of the Treasury, Secretary of the Treasury, Washington, DC, August 10, 2022. Charles P. Rettig, Commissioner, Internal Revenue Service, Washington, DC. Dear Commissioner: The Inflation Reduction Act includes much-needed funding for the IRS to improve taxpayer service, modernize outdated technological infrastructure, and increase equity in the tax system by enforcing the tax laws against those high-earners, large corporations, and complex partnerships who today do not pay what they owe. These crucial investments have been a focus of the Biden Administration since the President's first day in office, and I was heartened to see the legislation pass the Senate this weekend. Notwithstanding the changes that arose because of Republican challenges during the Byrd process, I write today to confirm the commitment that has been a guiding precept of the planning that you and your team are undertaking: that audit rates will not rise relative to recent years for households making under $400,000 annually.…”