According to a report released by the IRS and Treasury Department on Tuesday, the IRS could collect up to $561 billion in additional tax revenue between 2024 and 2034 due to the 'transformational initiatives enabled by' the 2022 Inflation Reduction Act (IRA), as a press release on the report said.
Officials directly cite the $80 billion in additional IRS funding passed by Democrats - and staunchly opposed by Republicans - as the reason behind the predicted revenue increase.
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