“The Internal Revenue Service’s enforcement fund—initially intended to last about a decade—could run dry in 2025”
Remember that $80 billion in IRS funding courtesy of the Biden administration? As usual, the IRS already needs more money.
The Internal Revenue Service’s beefed-up enforcement fund—initially intended to last about a decade—could run dry in 2025 after budget cuts and a quirk in congressional funding that Biden administration officials are hoping to address before they leave office.
Deputy Treasury Secretary Wally Adeyemo said Congress would need to reach a comprehensive spending deal for the rest of fiscal 2025, or include additional language in another continuing resolution to avoid another $20 billion IRS cut from going into effect.
Adeyemo, a Nigerian immigrant who got the job because he worked on outreach for the Kerry presidential campaign, seems like he won’t have long on the job. It’s time for him to go back to Black Rock or whatever big finance firm will bring him on board. His administration isn’t setting policy anymore. And a Republican House isn’t likely to care about what he wants especially since it made this happen on purpose.
Congressional Republicans told the industry publication Tax Notes that this was part of an intentional strategy and that they tried not to call attention to it before it kicked in.
That seems to have been one of those rare congressional Republican strategies that actually worked.
Massively boosting IRS funding was one of the least popular things the Biden administration did, and considering that list also includes filling the country with millions of illegal alien criminals, abandoning Americans in Afghanistan, and causing massive inflation, that really says something.
The American people voted. And they didn’t vote for billions for the IRS.
Article posted with permission from Daniel Greenfield
