Threat on the horizon: The wildly mislabeled “Inflation Reduction Act” passed the House over the weekend. Once signed into law, it will among other things add $80 billion to the IRS budget and swell its ranks with 87,000 new agents.
Swimming in loot: The goal is to arm the IRS with enough firepower to collect $200 billion in supposedly unpaid taxes, at a time when the federal government is flush with revenue.
Who’s in the crosshairs? The Biden administration swears that the IRS won’t target Americans making less than $400,000 with new audits. Rep. Kevin Brady, R-Texas, however, provided data showing that claim to be false.
Read more: Learn more about the dangers this bill poses to middle-class Americans here.