Senate Bill: IRS Funding Hypocrisy

Chris EdwardsThe Senate ’s Inflation Reduction Act includes an $80 billion increase in the Internal Revenue Service budget over a decade, which would roughly double the agency’s budget by 2031.It ’s nearly impossible for taxpayers to contact the IRS for timely answers to filing questions, but the Senate bill devotes just $3.2 billion of the new spending to “taxpayer services.” The lion’s share—$46 billion—goes toward jacking up IRS enforcement. The thrust of the bill is against t he people, not for the people to understand the code and voluntarily comply.Senators supporting the bill talk about “tax cheats” and “closing tax loopholes. ” But this is a huge hypocrisy. The Senate bill itself creates new loopholes and tax breaks, and complicated breaks drive noncompliance with the tax system. The Senate bill would expand a slew of special‐​interest credits and other breaks within a $370 billion orgy of green subsidies and cor porate welfare.This chart illustrates the relationship between politicians and special ‐​interest tax breaks:TheCBO summary of the Senate bill lists tax credits for electricity produced from renewable resources, solar facilities in low‐​income communities, carbon oxide sequestration, nuclear power production, sustainable aviation fuel, nonbusiness energy property, residential clean energy, energy efficient homes, c lean vehicles, previously‐​owned clean vehicles, alternative fuel refueling property, advanced energy ...
Source: Cato-at-liberty - Category: American Health Authors: Source Type: blogs