How the Cut Inflation Act Could Affect Your Taxes


Lisa Desjardins:

Judy, the so-called Inflation Reduction Act would dramatically increase IRS funding by some $80 billion over the next 10 years. Democrats say it gets the agency back on its feet, able to find more tax cheats after years of budget cuts. Republicans say it’s dangerous and will target American families for audits.

Join me now for more from former IRS Commissioner John Koskinen.

Thank you very much for joining us.

I want to start with some basic facts here about the IRS. First of all, since 2010, the IRS has suffered major budget cuts, of almost 20%, and its staff has decreased by approximately the same amount. The agency currently has about 80,000 full-time employees, for reference.

John Koskinen, this bill could double that amount, adding more than 80,000 more employees over 10 years. Does the IRS really need it? Is the problem so important?


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