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Biden spending bill IRS enforcement plan draws dire warnings from GOP
Despite CBO score, White House stands by claim reconciliation bill won’t add to deficit
The White House maintained that Biden’s Build Back Better agenda, which passed the House, will not add to the deficit. Fox News congressional correspondent Chad Pergram has the latest.
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.
HOUSE PASSES BIDEN SPENDING BILL AFTER MONTHS OF DELAYS