The deal agreed to by President Joe Biden and GOP House Speaker Kevin McCarthy this weekend shaves more than $21 billion from the IRS’s $80 billion in supplemental funding, but the White House said it shouldn’t deter the agency’s overhaul plans.
“We don’t think it’ll fundamentally change what the IRS does over the course of the next few years,” a White House official said. “We think the IRS will continue to be able to effectuate its plans in the near term, and then there may be a need to come back to Congress and ask for additional funding.”
McCarthy (R-Calif.) ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.