Increased Funding For IRS Is Actually Negative Value Added

The Inflation Reduction Act (IRA) of 2022 included $79 billion in added funding for the Internal Revenue Service (IRS) over the coming decade. The funding will roughly double the agency’s budget by 2031 in nominal dollars, with 57 percent of the added funding for enforcement but just 6 percent for business systems (computers) and 4 percent for taxpayer services. House Republicans are seeking to repeal most of the new funding as part the debt negotiations. Read Full Article »