A House-passed bill rescinding $71.5 billion for the hiring of up to 87,000 IRS agents has languished in the Democrat-led Senate for nearly four weeks without a vote. House Speaker Kevin McCarthy pledged to schedule a vote to eliminate the funding as his first order of business
In response to criticism, Janet Yellen wrote to the IRS instructing the agency not to use additional resources to target individuals or families in that category.
- Ahead of the Inflation Reduction Act's passage on a party-line vote using budget reconciliation, Democrats defended the roughly $70 billion expenditure for the IRS as a revenue enhancement measure that would help pay for the legislation.
Schumer supports the bill
- "It is well known that too many wealthy individuals and large corporations - through gaping loopholes - don't pay their fair share of taxes while average Americans often pay a much higher percent," the New York Democrat said after the bill passed in the House.
- Thousands of increased IRS personnel are aimed at closing those loopholes and forcing the wealthy and well-connected to finally pay theirfair share.”
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