Biden administration announces plan to give IRS $80 billion to target ultra-rich tax avoiders

The Biden administration is planning on giving an extra 80 billion dollars to the IRS in order to target “ultra-rich” tax avoiders.

This comes just a few days after President Biden unveiled a plan that would significantly raise taxes for high income families that make more than $400,000 per year. The plan is to crack down and make sure that people are unable to keep money illegitimately that they make, and prevent them from hiding money, or paying extra on taxes.

The influx of money given to the IRS will be a two thirds increase over their funding in over a decade. Which is also projected to increase to about 700 billion dollars on net, in the coming decade. All the money that is taken from wealthy American families through high taxes will be given back to low income, and “average” Americans in the “American Families Plan” that is set to be addressed before the Joint Session of Congress, this Wednesday [NY Post].

READ MORE UNBIASED NEWS AT FBANEWS.ORG

ARTICLE: ISABELLA FLORES

POLITICS EDITOR: CARSON CHOATE

PHOTO CREDITS: NEW YORK POST

The following two tabs change content below.

• Bio
• Latest Posts

Isabella Flores

Latest posts by Isabella Flores (see all)

• Gov. Whitmer collects $550k in contributions above normal giving limits in response to recall efforts - November 6, 2021
• New Jersey to require lawmakers, visitors to get COVID-19 vaccine or test to enter state-house - November 2, 2021
• Judge in Mollie Tibbitts murder case denies defense’s request for access to other investigations - July 26, 2021