U.S. Treasury officials are urging Congress to release $20 billion allocated for IRS enforcement before Trump takes power.
Facing anticipated funding cuts under the incoming Trump administration, U.S. Treasury officials are urging Congress to release $20 billion allocated for IRS enforcement. The funds are currently stalled due to legislative language that has effectively frozen their use.
'If they don't get that $20 billion that is at risk they would run out of enforcement money at the current pace sometime in fiscal year 2025.'U.S. Has Reached $36 Trillion in Federal DebtThe U.S. federal debt has reached approximately $36 trillion. Post-pandemic inflation has significantly increased government borrowing costs, with projections indicating that debt service payments will soon surpass national security expenditures.
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