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The Latest Breaking News from IRS

Congress Just Passed the Inflation Reduction Act. It Will Hike Taxes on Some Middle-class Households.

It also spends billions on new green energy programs, and it lets the IRS hire 87,000 new agents.

Reason

Elon Musk uses ‘laughing in British’ meme to mock Biden plan to hire more tax collectors

The Tesla and SpaceX tycoon echoed conspiratorial Republican attacks on Democrats’ efforts to tighten tax enforcement against the rich

The Independent UK

Don't Believe the White House's Promises About Who the New IRS Will Audit

Media "fact-checkers" are taking administration promises at face value and using them to bludgeon Republicans.

Reason

From analysis to the latest developments in health,
read the most diverse news in one place.

Budget bill clears as Democrats seek to head off midterm losses - Roll Call

The House on Friday cleared a climate, health and tax package salvaging key parts of Democrats’ domestic agenda.

Roll Call

House Dems set to overcome GOP for climate, health care win

A flagship Democratic economic bill is perched on the edge of House passage

The Independent UK

New report reveals Obama Foundation fundraising dips; CEO Valerie Jarrett paid $592,905 in 2021

The Obama Foundation reported on its new IRS 990 that in 2021, the foundation collected $159.6 million, down from $171 million in 2020.

Chicago Sun-Times

Biden team pushes to allay concerns about tax enforcement funds

US Treasury secretary directs IRS chief against using new resources to audit more households making less than $400,000.

Al Jazeera

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Editorial: In the Inflation Reduction Act, a much-needed step toward lowering prescription drug costs

It's become tiresome to see progressive politicians act like a pouting teenager who seems to think it's a sin to ever admit satisfaction with anything. Their lukewarm reaction to Senate passage of the admittedly ill-named Inflation Reduction Act won't help energize the voters Democrats need to avoid conservatives regaining Congress…

The Philadelphia Inquirer

IRS Controversially Claims Hiring 87,000 New Agents Won't Mean Higher Audit Rate for the Middle Class

So why do Democrats keep equivocating on the point that households making under $400,000 may be targeted for more audits by an expanded IRS?

Reason

Jackie Calmes: GOP voters will benefit from the Inflation Reduction Act. Congressional Republicans just don't care

In a polarized America, you don't get this kind of agreement on much of anything.

Los Angeles Times

Illinois, feds must take steps to keep invasive carp out of Great Lakes

The Brandon Road Lock and Dam project near Chicago is needed to prevent carp from wreaking ecological and economic havoc on the country’s largest source of fresh water.

Chicago Sun-Times

AP FACT CHECK: GOP skews budget bill’s impact on IRS, taxes

Republican politicians and candidates are distorting how a major economic bill working its way through Congress would overhaul the IRS and affect taxes for the middle class

The Independent UK

Fact check: Will 87,000 new IRS agents mean more audits for middle-class families and small businesses?

The Schumer-Manchin tax bill passed the Senate as part of the Inflation Reduction Act on Sunday. According to legislative documents, the bill will raise taxes and boost the IRS by an estimated $80 billion.

Tribune News Service

A donor-run NIL collective is coming to USC football — against the school's wishes

LOS ANGELES — When USC partnered with an outside media company to launch BLVD LLC, the hope was that its unique approach to facilitating name, image and likeness endorsement deals for Trojan athletes would help stave off the rise of a donor-run collective — and keep USC out of the…

Los Angeles Times

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news in one place.

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Tribune News Service

Climate, health and tax debate moves quickly to campaign realm

WASHINGTON — The debate over the sweeping climate, health and tax bill passed by Senate Democrats last weekend is already moving to the campaign trail, even before the House has cleared it for President Joe Biden’s signature.

Tribune News Service

Appeals court sides with House in fight over Trump tax returns

WASHINGTON — The House Ways and Means Committee can use a federal law to gain access to the tax returns of former President Donald Trump, a federal appeals court in Washington ruled Tuesday.

Tribune News Service

Missouri AG Schmitt says he’ll take a ‘wrecking ball’ to DOJ as Republicans react to Trump raid

Missouri Attorney General Eric Schmitt, the Republican nominee for U.S. Senate in Missouri, decried an FBI raid of former President Donald Trump’s Mar-a-Lago resort, calling it an “unprecedented weaponization” of the Department of Justice against one of President Joe Biden’s political opponents.

Roll Call

Climate, health and tax debate moves quickly to campaign realm - Roll Call

Republicans attacked the reconciliation package, which Democrats say could reduce inflation and bring down the cost of prescription drugs.

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news in one place.

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Reason

FBI Raids Mar-a-Lago, Fueling Claims of Political Persecution

Plus: Anti-piracy ads made people want to pirate, new IRS agents could fill a football stadium, and more...

Roll Call

Appeals court sides with House in fight over Trump tax returns - Roll Call

Appeals court allows the House Ways and Means Committee to get Trump’s personal tax records from the Treasury Department.

Chicago Tribune

Editorial: Democrats finally get something done for President Biden. In the end, Manchin was more helpful than Sinema

As Democrats finally discovered reality and got some legislation moving, some mighty spurious arguments over the climate and energy bill emerged on both sides of the aisle.

The Independent UK

Marjorie Taylor Greene tweets upside down American flag amid GOP fury at raid on Trump’s Mar-a-Lago home

‘If they can do it to a former President, imagine what they can do to you’

Al Jazeera

US announces sanctions against currency mixer Tornado Cash

US accuses virtual currency mixer of laundering hundreds of millions of dollars stolen by hackers backed by North Korea.

Axios

What's inside Democrats' $740 billion tax, climate and health care bill

The bill has cleared its tallest hurdle and is expected to pass the House before heading to Biden.

Reason

Senate Passes $740 Billion 'Inflation Reduction Act' That Will Probably Make Inflation Worse

Plus: Inside Trump's family separation policy, a Grammarly for government, and more...

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