U.S. Treasury officials are urgently calling on Congress to unlock $20 billion in IRS enforcement money that is currently tied up in legislative language, preventing its use. This funding issue, separate from a previous $20 billion rescinded from the agency, has raised concerns about the potential consequences of inaction.
If the funds remain inaccessible, Treasury officials warn of dire outcomes, including a projected increase in the national deficit by $140 billion. This shortfall would result in 6,000 fewer audits of wealthy individuals, 2,000 fewer audits of large corporations, and necessitate a hiring freeze within the agency.
