Americans for Tax Reform hosted a press conference on Tax Day — Tuesday April 18 — at the House Triangle on Capitol Hill. Ways and Means Committee Chairman Jason Smith kicked off the event.
His remarks are as follows:
“Tax Day is one day of the year that every American dreads. It’s when taxpayers see how much of their hard earned money goes to the government. But this year, Tax Day has taken on a whole new meaning for working families because of the threat they’re facing from President Biden’s supercharged IRS and all of his proposed tax increases.
If President Biden gets his way, we will see an increase of $4.7 trillion worth of tax increases — $1.8 trillion directly on small businesses.
At the same time, the IRS is asking taxpayers to fork over another $43.2 billion to the IRS on top of the $80 billion they received just eight months ago. That money isn’t for going after billionaires and big corporations. It’s so the IRS can hire 87,000 new employees to target working families.
If you look at the Biden administration’s claims that they will only increase audits relative to historic levels. Let’s do the math. That means there will be more than one million new audits and 650,000-plus of those new audits will be on people who make less than $75,000 a year.
But it gets even worse. Starting next year, if you sell a couch, concert tickets or pay your neighbor’s kid to mow your lawn with Venmo or Paypal, guess what, those transactions — they’ll be reported to the IRS. This policy puts a target on the backs of nearly every taxpayer in America.
Let me tell you. The IRS doesn’t need another raise. It needs a reckoning. The House Ways and Means committee is going to be laser focused on holding the IRS accountable, protecting taxpayers from political targeting and stopping Joe Biden’s tax increases.“