A large portion of the ‘Build Back Better’ lite bill that was recently signed by President Biden included a provision that will hire 87,000 new IRS agents, including thousands that will be armed.
The mainstream media is dismissing concerns about arming IRS agents as ‘Conspiracy theories’.
The bill, called the ‘Inflation Reduction Act’, earmarked $79 billion in new funding to the IRS.
When the bill passed, top White House officials including Press Secretary Karine Jean Pierre and Treasury Secretary Janet Yellen said that the new IRS agents would not be used to audit middle-class Americans.
A new report released by the Congressional Budget Office (CBO) has contradicted those claims, saying that the federal government will rake in billions in new revenue every year by auditing people making under $400,000 a year.
The Daily Caller Reports–
Despite claims from Biden administration officials that new funding for the Internal Revenue Service (IRS) will not increase the auditing burden on individuals and small businesses, a Friday letter from the Congressional Budget Office (CBO) reveals new auditing activity targeting taxpayers who report less than $400,000 per year will be expected to contribute to about $4 billion in revenue.
Treasury Secretary Janet Yellen on Aug. 10 directed the IRS to not use the $79 billion funding increase granted to the organization in the Inflation Reduction Act to increase the “share of small business or households below the $400,000 threshold that are audited relative to historical levels.”
White House Press Secretary Karine Jean-Pierre told reporters “No. Very Clear. No.” when asked if there would be new audits on “anyone” making less than $400,000 per year, and Yellen herself said that “small business[es] or households making less than $400,000 per year will not see an increase in the chances that they are audited,” in the directive’s announcement.