Heading into the 2023 tax filing season, Janet Yellen laid out the IRS’s priorities.
Cutting funding to the IRS would be a “damaging and irresponsible” policy that would negatively affect U.S. taxpayers, says Treasury Secretary Janet Yellen.
Ms. Yellen took aim at a House Republican-led proposal that rescinds $14.3 billion from the tax-collecting agency to cover the cost of an emergency aid package for Israel following the deadly Hamas terrorist attacks.
“The current proposals to cut funding for the IRS make this an especially crucial time to talk about the importance of this work,” she said in a prepared speech. “Playing politics with IRS funding is unacceptable. Cutting it would be damaging and irresponsible.”
She highlighted how the IRS collects 96 percent of the federal government’s revenue that funds the nation’s critical needs, such as Social Security, infrastructure, national security, and other key priorities.
Last year, President Joe Biden and Democrats extended the federal agency $80 billion through the Inflation Reduction Act. The funding was intended to expand manpower, improve customer service, invest in better technology, and bolster tax enforcement. During the debt…
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