Debt-Ceiling Deal Will Cost the IRS Up to $21.4 Billion

Posted on AllSides May 30th, 2023
From The Center
Politics, Debt Ceiling, IRS

The Internal Revenue Service will lose up to $21.4 billion from its $80 billion expansion fund as part of the bipartisan debt-limit deal, as Republicans got President Biden to pare back one of his top accomplishments. 

The IRS received the $80 billion last year as part of broader legislation that passed without any Republican votes. The pile of cash was aimed at boosting tax enforcement, revamping aging technology and reversing a decade of attrition at the tax agency. 

The money was supposed to provide the IRS with nine years of protection from the volatile annual...

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