Already bracing for funding cuts under a new Trump administration, U.S. Treasury officials are calling on Congress to unlock $20 billion in IRS enforcement money that is tied up in legislative language that has effectively rendered the money frozen.
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Adeyemo was joined by Maya MacGuineas, president of Committee for a Responsible Federal Budget, who also issued a warning about the ramifications of overall spending cuts to the IRS, and how pulling back agency enforcement funding could negatively impact the federal deficit.stands at roughly $36 trillion, and the spike in inflation after the coronavirus pandemic has pushed up the government’s borrowing costs such that debt service next year will exceed spending on national security.
The news also comes as President-elect Donald Trump and a Republican majority sweep of the Senate and House of Representatives promise major policy changes for the White House and Congress.
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The IRS is at risk of losing $20 billion in funding without legislative interventionAlready bracing for funding cuts under a new Trump administration, U.S. Treasury officials are calling on Congress to unlock $20 billion in IRS enforcement money that is tied up in legislative language that has effectively rendered the money frozen.
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The IRS is at risk of losing $20 billion in funding without legislative interventionAlready bracing for funding cuts under a new Trump administration, U.S. Treasury officials are calling on Congress to unlock $20 billion in IRS enforcement money that is tied up in legislative language that has effectively rendered the money frozen.
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Read more »
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