One of the main storylines of the passage of the so-called Inflation Reduction Act (IRA) was hiring 87,000 new Internal Revenue Service (IRS) agents. However, the White House Council of Economic Advisers’ Jared Bernstein insists those resources will not be used to audit households earning under $400,000 and will target those engaging in tax evasion, not tax avoidance. During an appearance on FNC’s “America’s Newsroom,” Bernstein some of the press reporting. “Here, I want to quote something from the Commissioner of the IRS, Commissioner Rettig. “In other words, IRA resources will not add to audits for households under $400,000, and those same households will not see one penny increase in their taxes based on proposals in the Inflation Reduction Act.

Source: Fox News August 10, 2022 18:14 UTC