- July 18, 2021
- Posted by: Stratford Team
- Category: Business
A $1.2 trillion bill that includes $600 billion in new federal spending that doesn’t add to the deficit or raise taxes?
That’s the promise from the legislators behind the pending bipartisan infrastructure deal.
If it sounds too good to be true, it probably is.
Lawmakers claim they can collect much of the revenue needed to fund this spending by bolstering IRS enforcement to close the tax gap — the difference between what taxpayers owe and what they pay. The bipartisan deal calls for $40 billion in new IRS funding. President BidenJoe BidenPence refused to leave Capitol during riot: book Father and son police officers charged with joining Proud Boys at Capitol riot On The Money: Five questions for Democrats on their .5T budget | Retail sales rebound in June despite rising prices MORE’s $6 trillion 2022 budget spends $80 billion to hire 87,000 new IRS agents, roughly doubling the agency’s size.
Proponents spin IRS expansion as a needed effort to catch…