Ways and Means Republicans Introduce Bill to Protect Middle Class, Small Businesses from Supersized IRS
Ways and Means Republicans, led by Republican Leader Rep. Kevin Brady (R-TX), introduced a bill to prevent the Internal Revenue Service (IRS) from using its massive, $80 billion infusion of taxpayer dollars to squeeze more revenue out of American taxpayers who earn less than $400,000 per year.
“No matter what they deny, Democrats in Washington are unleashing an army of IRS agents on middle class taxpayers who work hard and don’t deserve to be harassed,” Rep. Brady said. “In this bill we offer protection to the value-shopping families who are the primary target of 710,000 new audits – the working families most damaged in President Biden’s cruel economy.”
The legislation would prevent the IRS from using any of the supersized $80 billion of funding for audits on hard-working American taxpayers, including individuals and small businesses, with taxable incomes below $400,000. The bill has teeth, in contrast to unenforceable, nonbinding statements of intention or unenforceable, vague Treasury Department edicts to not squeeze more revenue out of the middle class.
The legislation, which is cosponsored by every Ways and Means Republican, is a companion to a proposal led by Senate Finance Republican Leader Senator Mike Crapo (R-ID).
For bill text, click here.