Janet Yellen STARTS BEGGING – Hits Rock Bottom!
(RepublicanNews.org) – Last week, Senate Democrats threw out a measure that would have protected middle-class Americans from overzealous Internal Revenue Service (IRS) audits. That denial opened the way for President Biden to break his promise not to increase taxes on ordinary families. Now, Treasury Secretary Janet Yellen is begging tax enforcers to refrain from using their new powers to punish middle earners.
Janet Yellen Begs IRS Not to Target Middle-Class Americans After Democrats Greenlight Audits https://t.co/PwOjSLaV1s
— John đź‘˝ (@JxhnBxnder) August 11, 2022
The Senate officially passed the Inflation Reduction Act, which some economists say is seriously misnamed, in a party-line vote on August 7. It includes $80 billion in extra funding for the IRS so it can audit and investigate taxpayers.
Worried that the measure risked breaking Biden’s pre-election pledge not to raise taxes on Americans earning less than $400,000 a year, Senator Mike Crapo (R-ID) put forward an amendment banning the IRS from using the new funding to target people in that bracket. Senate Democrats voted it down, replacing it with a “suggestion” that the IRS doesn’t pursue the middle class — but later removed even that from the final draft.
Treasury Secretary Janet Yellen is trying to head off the IRS. On Wednesday, she wrote to the service’s Director Charles Rettig, begging him to focus on “high-end noncompliance” and leaving those earning under $400,000 alone. But if Democrats don’t want to audit the middle class, why didn’t they support Crapo’s amendment?
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