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Biden wants to go after the wealthy on taxes with a $1.2 billion increase in IRS funding

IRS office

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President Joe Biden’s $1.5 trillion budget proposal on Friday proposes a ramp-up in spending for education, health, climate initiatives, and more. It also included over $1 billion in increased funding for the Internal Revenue Service to hold the wealthy accountable.

According to a White House fact sheet on Biden’s budget proposal, Biden is requesting an additional $1.2 billion, or a 10.4% increase above the 2021 level, to the IRS’ budget to ensure that wealthy people and corporations are complying with existing tax laws. The IRS would also get an additional $417 million in funding details ⇒

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