- The bill would give the Internal Revenue Service a lump-sum payment of $79 billion—in effect, a slush fund six times the IRS’s entire annual budget.
- There simply is no plausible way for the scandal–ridden and union-dominated agency to absorb so much extra funding and power while avoiding waste, fraud, and abuse.
- This slush fund raises the risk of a return to a politicized IRS.
- To be clear, everyone should pay the taxes that he or she legally owes, but the best way to encourage compliance is to simplify the tax code and reduce the tax burden.
Resources:
- ‘Build Back Better’ Bill Would Build a Bigger, But Not Better, IRS Bureaucracy (November 10, 2021)
- Biden’s Proposal to Allow IRS to Track Your Bank Transactions Is Dangerous for All Americans (October 1, 2021)
- Sen. Cynthia Lummis Grills Treasury Secretary Yellen About Privacy Fears Over ‘Unconscionable’ IRS Bank Proposal (September 29, 2021)
- 8 Things You Need to Know About Democrats’ Tax Increase Bill (September 17, 2021)
- Could Biden IRS Expansion Plan Signal Return to Politicization? (June 8, 2021)
- President Biden’s Corporate Tax Increase Would Reduce Wages, Harm Economic Growth, and Make America Less Competitive (April 20, 2021)
