Democrats rejected a Republican proposal to ban tax hikes for the middle class while passing its new Inflation Reduction Act spending bill on Aug. 7.
U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) filed an amendment to prevent the Internal Revenue Service (IRS) from using the $80 billion in new funds allocated under the Inflation Reduction Act to collect more taxes from Americans earning below $400,000 per year.
“Small-business owners, cash-heavy businesses, and those who can’t afford legal teams are easy targets for the new IRS agents and their audits. My amendment would ensure the Democrats’ supersized-IRS proposal cannot violate the president’s pledge to not raise taxes on those making less than $400,000,” he said in an Aug. 7 news release….