Treasury Secretary Janet Yellen Sends Letter to IRS
Treasury Secretary Janet Yellen sent a letter to the Internal Revenue Service yesterday. In the letter, Yellen directed the IRS not to use any new funding allocated in the Democrat’s new Health Care and Climate bill to increase the chances of Americans making less than $400,000 a year being audited. The letter comes as Republicans attack the IRS, saying that the $80 billion that they are receiving from the Inflation Reduction Act would cause the agency to audit more middle-class Americans and small businesses. The new IRS funding is projected to raise $124 billion in additional tax revenue over the next decade. The Senate passed the bill Sunday but the House still needs to approve it.