A bill that was passed in the House of Representatives on Jan 9, 2021 to rescinding $71.5 billion for the hiring of up to 87,000 IRS agents has faced resistance from the Democrat-led Senate. The bill was part of the $740 billion Inflation Reduction Act that was passed by the Democrats last year. Republicans have argued that the funding could be used to target Americans earning less than $400,000 per year with additional audits. In response to the criticism, Treasury Secretary Janet Yellen wrote to the IRS instructing the agency not to use additional resources to target individuals or families in that category.

A solid majority of likely voters queried (56%) supported the House-passed bill that strips the IRS funding from the Inflation Reduction Act according to a Rasmussen Reports poll published on Jan 17. However, Senate Majority Leader Chuck Schumer has criticized the GOP bill, signaling that it will not get a vote any time soon in the Democrat-controlled chamber.

Latest News