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Biden spending bill's IRS tax enforcement plan will cause audits to double, House GOP memo says
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FIRST ON FOX: Expanded IRS tax enforcement provisions included in President Biden’s social spending bill will cause audits to double over the next 10 years, according to a Republican memo distributed by House Minority Leader Kevin McCarthy, R-Calif., to GOP lawmakers on Thursday morning.
Penned by Republican members of the tax-writing House Ways and Means Committee, the memo asserts Biden’s tax enforcement plan will result in an additional 1.2 million IRS audits each year. Nearly half of the audits would impact families earning less than $75,000, while roughly one-quarter of the audits would affect Americans earning up to $25,000 per year. The Republicans say the plan will also result in 800,000 more federal tax liens against taxpayer property, including homes and vehicles.
"President Biden wants to double Americans' chances of getting audited in order to squeeze every single dollar they can from American families and small businesses to fund the most expensive piece of legislation in history," McCarthy said in a statement. "This would be a nightmare state for families living in fear of an army of IRS bureaucrats designed to second-guess and spy on them."
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"Low and middle-income families are already struggling due to the inflation caused by Biden's runaway spending, and Democrats' spending spree is exactly the opposite of what the American people need right now," he added.