Pouring more money into IRS enforcement could bring in an extra $700 billion in tax revenue over the next decade, according to the Department of the Treasury.
The agency was commenting on measures from President Joe Biden’s newly announced American Families Plan, specifically, its investment in the Internal Revenue Service of about $80 billion over the next decade. Charles Rettig, the agency’s commissioner, told Congress this month that enforcement personnel has fallen by about 17,000 over the past decade. Biden wants to reverse this, and allocate extra resources towards targeting the ultrawealthy.
