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Biden’s boost to IRS funding means the wealthy could soon be hiding only hundreds of billions per year

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As part of his plan to hold the wealthy and corporations accountable, President Joe Biden hopes to boost Internal Revenue Service funding by $80 billion over 10 years, The New York Times reported on Tuesday.

This new funding would be a two-thirds increase over funding levels from the past decade, but it could still leave hundreds of billions in taxes uncollected every year, Insider calculates, based on figures reported by the Times and comments from the IRS chief to Congress.

The Times cited an administration estimate that Biden’s plan could raise at least $780 billion over 10 details ⇒

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