Americans Brace For Disaster After Biden Pumps Billions Into The Most Hated Agency
(TruthandLiberty.com) – President Joe Biden and Democrats secured a small sliver of the original $3.5 trillion Build Back Better proposal Sen. Joe Machin (D-WV) killed last winter on Sunday, August 6. Last week, Manchin and Democrat Majority Leader Chuck Schumer (D-NY) agreed on a $400 billion package named the “Inflation Reduction Act.” It included an $80 billion provision for hiring 87,000 new IRS agents.
Ahead of the vote, Internal Revenue Service Commissioner Charles Rettig told Congress the agency would not use the money or workforce to audit those making less than $400,000 annually. Instead, he said officials intended it to go toward modernizing the department’s technology and going after wealthy tax cheats. Still, the administration is giving taxpayers pause and a reason for concern that tax collectors will hit up everyday people for more money.
Will the IRS Go After Workaday Americans?
If the House passes the legislation, and that’s not a guarantee, the size of the IRS would double overnight, adding to its current 78,661 full-time staff. While the agency’s commissioner says they won’t audit the middle class, the administration has suddenly struck a different tone. On Monday, August 8, CNBC challenged White House economic adviser Jared Bernstein in a heated exchange. The CNBC reporter asked the adviser about the reality of the 87,000 new IRS agents needing to find something to do. Bernstein confirmed the administration couldn’t make the promise the tax agency wouldn’t audit more citizens earning less than $400,000.
The Congressional Budget Office (CBO) estimates the hiring spree at the IRS will add $203.7 billion in revenue over 10 years. So, is the money needed? A May CBO report said the government revenue this year would jump by $800 billion above expectations. The $4.8 trillion collected by the Treasury Department would be the highest tax receipts since 2000.
So, does the federal government have an income or spending problem?
Regardless, opponents of the law say the IRS expansion will hurt ordinary Americans, and many appear to agree.
Middle Class Says New Law Will Hurt Them
On Tuesday, respondents told Fox Business they’re concerned about the beefed-up tax collection agency. One person said the IRS wouldn’t target the rich lined with lawyers and accountants. Instead, the IRS will likely go after the middle class, who have no financial means to fight back.
Many people stated the Democrats’ bill hurts the lower class the most. Others said tax collectors would target the average person. One person emphasized the department needed to shrink, not grow.
Republican lawmakers are mad about the proposal. They stated the provision increases tax enforcement by 70%. Sen. Mike Crapo (R-ID) proposed an amendment to the bill prohibiting the IRS from increasing audits on those making under $400,000 annually. All 50 Democrats shot down the proposal.
That may tell you all you need to know.
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