Thanks to the infusion of funding provided by the Inflation Reduction Act, the IRS was able to collect $160 million from millionaire tax cheats, notify Microsoft that it owes $29 billion in taxes, and announce the audits of 60 giant corporations that together make more than $500 billion in profits each year.
Research shows that for every $1 spent on making sure that wealthy tax cheats pay what they owe, we see, on average, a $22 return.
Yet some Republicans are trying to cut the IRS’s new funding. I find this outrageous. With our debt being what it is, why would we take away one of the best ways we’ve got of reducing it?
Also, paying taxes is a civic duty and ensures a healthy democracy. Most ordinary Americans pay the taxes we owe every year. Why should the ultra-wealthy be any different?
I urge you to reject funding cuts to the IRS. Thanks.
