an error in a law extended a $20B budget cut to the IRS. accident or intentional? what are the odds that the pubs will agree to amend it? Congress has just revoked another $20 billion in funding from the IRS — here’s why that’s a problem for all Americans The Inflation Reduction Act of 2022 included $79.4 billion in funding for the IRS — $1.4 billion of which was rescinded to raise the debt ceiling last year. These cuts reduced the budget of the enforcement division by $20 billion. Unfortunately, the legislative language was duplicated in error in a September funding bill, which resulted in the agency losing another $20 billion. The consequences could be dire, as Treasury Deputy Secretary Wally Adeyemo warned reporters at the end of November that, “the IRS is going to potentially have to make dramatic decisions about stopping hiring and starting to budget for a world in which they don’t have $20 billion which will stop a lot of their progress. If they don’t get that $20 billion that is at risk they would run out of enforcement money at the current pace sometime in fiscal year 2025.” .................... Plus, it’s also a simple reality that taxes fund government programs. If the IRS doesn’t collect enough because people aren’t audited, and the ultra rich don’t fear being audited due to low staffing levels, the government will either have to cut programs people rely on or print more money, which can cause inflation.
This happened under the watch of the democratic controlled senate and the democratic president and now you're waiting to see if the republicans fix what the democrats did?
Why doesnt the GOP house have any agency here? They played a part in the debt ceiling legislation and almost certainly demanded that as part of the package, whether the projected effects were intended or not. Its amazing how its basically expected that the GOP is inherently irresponsible and saboteurs, its only one parties mess to fix, not the one who demanded the cuts, or even a team effort. Anyways, if deficits and inflation dont matter, then no need to do anything. But it seems like if their other ambitions are important, exploding the deficit and increasing inflation even more than expected isnt the best course. There are House elections in 2026, and their margin is 1 right now.
trim the IRS to just exactly what is needed to collect revenues from a flat 15% tax- no exemptions- everyone pays it
And the Republican controlled House of Representatives and just a reminder under the Constitution all bills regarding raising revenue must originate in the House. Although both Houses of Congress are responsible most of the blame falls with the House where the applicable legislation originated. FYI from the Constitution: Article I, Section 7, Clause 1: All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.
It and it would result in a huge windfall for the top one percent and even more so for top one percent of the top one percent.
That would likely require a substantial expansion in workforce. Having to run down indigent people who made $7k for the year (the average income for homeless people) to get $1,050 is labor intensive. It also would cost far more than $1,050. But at least we would show those poor people!
it was an error missed by both parties that will take both parties to fix it. im curious if maga will allow the error to be corrected or will prevent it
I would also add that funding for the IRS is probably the only form of federal spending that has a positive return on investment. The CBO has estimated that each dollar spent by the IRS results in a six-dollar increase in revenue. If Republicans are really concerned with the deficit and national debt (they're not of course) they wouldn't be opposing increased spending for the IRS. As a note increasing the budget of the IRS would allow the agency to focus more on very wealthy taxpayers and corporations that utilize complex tax avoidance schemes.
