Budget Office Warns Biden Will ‘Supercharge' IRS To Audit Low Income and Middle Class Families
Added 08-13-22 09:16:02am EST - “Under the Inflation Reduction Act, the CBO estimates that low-income and middle-class Americans will raise the government billions in additional tax revenue.” - Dailycaller.com
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The Congressional Budget Office (CBO) estimates that low-income and middle-class Americans will raise billions in additional tax revenue under the Democrats’ Inflation Reduction Act, according to a press release by Republicans on the Ways and Means Committee.
The CBO investigation into the financial impact of Republican Idaho Sen. Michael Crapo’s failed amendment found that if it were to have passed, the Inflation Reduction Act would have lost at least $20 billion in revenue, according to the report.
“CBO has not completed a point estimate of this amendment but the preliminary assessment indicates that amendment 5404 would reduce the ‘non-scorable’ revenues resulting from the provisions of section 10301 by at least $20 billion over the FY2022-FY2031 period,” the CBO stated, according to Ways and Means GOP.
SHARE vs [email protected] directing #IRS to not “increase the SHARE” of taxpayer audits below $400k.
With share staying same + surge in new #IRS agents, ACTUAL audits for taxpayers making less than $75k increases by 710,000 based on CBO data. #IRS87k
What’s that mean?
— Rep. Kevin Brady (@RepKevinBrady) August 12, 2022
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