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‘You're guilty until proven innocent. That alone is enough to defeat this bill.’
[FoxBusinessNews] As President Biden’s $1.75 trillion spending bill advances to the Senate, Republicans are issuing dire warnings about an aggressive IRS tax enforcement proposal that will be a key factor in determining whether the expansive legislation’s costs are fully covered.The White House asserts that a revitalized IRS crackdown on tax evasion, especially among the wealthiest Americans, will generate $400 billion in revenue through 2031, more than any other "pay-for" included in the spending bill. The Congressional Budget Office determined the proposal would generate about $127 billion in revenue, raising doubt about the Biden administration’s claim. Republicans say an expanded IRS will target lower- and middle-income families, not just the wealthy, raising money through debilitating audits for a slate of programs that most Americans do not support. House Minority Leader Kevin McCarthy leaned into that argument during an eight-hour floor speech in which he made a final, unsuccessful case that the bill should be voted down. Posted by: The Walking Unvaxed 2021-11-22 |
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