The Internal Revenue Service (IRS) doesn’t exactly have the best track record here in America. It has a pattern of going after people who don’t possess the resources to fight back.
Furthermore, during the Obama administration, Americans can remember the IRS targeting conservatives unfairly. Under the Biden administration, many people are fearful that history is going to repeat itself, especially due to the Inflation Reduction Act passing Congress.
One key component of the Inflation Reduction Act involves adding 87,000 new agents and considerable funding to the IRS. Americans are sounding the alarm that these agents are designed to go after middle-class, everyday folks.
Now, US Treasury Secretary Janet Yellen is pushing back on these claims, per Newsmax.
Yellen on the IRS Under the Inflation Reduction Act
Last week, the Treasury Secretary repeated the claim from Inflation Reduction Act defenders that small businesses and middle-class Americans aren’t going to be targeted with new IRS audits.
According to Yellen, people claiming otherwise are spreaders of “misinformation.” Later, she went on to say that she’s personally ordered for extra IRS resources not to be targeted at earners making below $400,000 annually or at small businesses.
The Inflation Reduction Act includes much-needed funding for the IRS to modernize and improve taxpayer service, and will increase equity in the tax system by enforcing tax laws against high-earners and large corporations who today do not pay what they owe. https://t.co/VIZ96qkiR0
— Secretary Janet Yellen (@SecYellen) August 11, 2022
So-called noncompliance on the “high end” is where Yellen says the IRS will be directing its attention with new resources. She also reiterated the importance of the IRS having extra resources to push back against the “tax gap” in the United States.
Yellen’s assertions have been echoed by countless Democrats who support and voted for the Inflation Reduction Act. Joe Biden already announced he’ll be signing the legislation into law this week.
Taken With a Grain of Salt?
Despite the strong claims of the Treasury Secretary, many people still aren’t convinced. After all, Yellen is the same official who claimed last year that inflation wasn’t something the nation needed to worry about.
Earlier this year, the Treasury Secretary was forced to walk back those statements and admit her predictions about inflation weren’t accurate. Moreover, the federal government also doesn’t have the best track record of being forthcoming with the everyday American.
This bill is not ok. pic.twitter.com/G8mACqZNM7
— Rep. Jason Smith (@RepJasonSmith) August 12, 2022
Critics of the Inflation Reduction Act have pointed out that 87,000 new IRS agents greatly outnumber both billionaires and millionaires in America. This, too, gives credence to the view that these new agents are being brought on board to go after the middle class.
The Inflation Reduction Act will furthermore raise taxes on the middle class, despite previous declarations that nobody earning below $400,000 would see their taxes rise under the Biden administration.
What do you think about US Treasury Secretary Janet Yellen’s claims about the new agents that will be added to the IRS? Do you really believe this is just about going after big businesses and the wealthy? Share your insight in the comments area.
This article appeared in The Conservative Brief and has been published here with permission.