Political Quotes

“Mr. Speaker, I include in the Record a FactCheck.org article confirming that not all of the 87,000 people who will be hired are going to work on enforcement. [From FactCheck.org, Aug. 18, 2022] IRS Will Target `High-Income' Tax Evaders with New Funding, Contrary to Social Media Posts (By Brea Jones) QUICK TAKE The Inflation Reduction Act includes $79 billion for the IRS. Social media posts misleadingly claim the IRS will now hire ``87,000 new agents'' to investigate average citizens. But most new hires will provide customer services, and enforcement efforts will be aimed at ``high-income and corporate tax evaders,'' a Treasury Department spokesperson said. FULL STORY President Joe Biden signed the Inflation Reduction Act--a climate, health care and tax package--into law on Aug. 16. The legislation includes roughly $79 billion for the IRS over 10 years. The nonpartisan Congressional Budget Office projects that the enhanced IRS enforcement funded by the law will generate an additional $204 billion in revenue over 10 years. That represents additional taxes that are owed under existing laws, but which go unpaid. Treasury Department officials say not all new hires will work on enforcement and increased revenues won't come from middle-income earners. Treasury Secretary Janet L. Yellen directed IRS Commissioner Charles P. Rettig not to use the new funding to increase enforcement of taxpayers earning less than $400,000. The IRS is a bureau of the Treasury Department.…”