Treasury Secretary Janet Yellen noted that funding the IRS would bring in money to the government that would exceed the costs of hiring more auditors.
warned might happen as early as June 1 if the federal government fails to reach a resolution.
The deal hasn't been finalized, but it would increase funds allocated for discretionary spending on veterans and the military without increasing the current year levels of non-defense discretionary spending, according to the official.participating in the ongoing negotiations reportedly supported a White House suggestion to treat military spending and non-defense spending more equally.
The IRS funding cut has been a hot-button issue for Republicans who are pushing for those cuts in an effort to reduce government spending, but congressional analysts warned that cutting agency funding would worsen the deficit, Politico reported on Monday. "Something that greatly concerns me is that they [Republicans] have even been in favor of removing funding that's been provided to the Internal Revenue Service to crack down on tax fraud," Yellen said on Sunday's episode of."Equipping the IRS with the funding they need to audit high-income individuals and corporations, that's something that doesn't cost money. It nets money substantially for the federal government.
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