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    Michael Hiltzik: Something for Biden to brag about — his IRS funding more than pays for itself

    by Michael Hiltzik, Los Angeles Times Mar 07, 2024 4 minutes
    The Internal Revenue Service headquarters building in Washington, DC.

    It goes without saying that President Joe Biden will take the podium for Thursday's State of the Union address armed with facts and figures of all that he's accomplished for the American people during his term. All presidents do.

    Here's one item we hope he doesn't fail to mention: By arming the Internal Revenue Service with billions of dollars in new resources, he has generated many more billions of dollars in tax revenues. And without raising tax rates.

    That's the outcome of a provision of the Inflation Reduction Act of 2022, which endowed the IRS with $80 billion in new funding over 10 years. About $20 billion of that is being rescinded

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