Joe Biden knows the clock is ticking on Democrat control of Congress.
He’s trying to pull a fast one on the public.
And Joe Biden is sweating bullets after a leading Republican exposed this massive deception.
The so-called “Inflation Reduction Act” could be the last major spending bill of Joe Biden’s pathetic Presidency.
With Republicans expected to regain control of Congress after November’s Midterm elections, time is running out for Democrats to hold onto power.
And this more than $700 billion socialist spending spree is chock-full of new taxes, green energy giveaways, and new funding for Obamacare.
To pay for this monstrosity, the so-called “Inflation Reduction Act” showers the IRS with $80 billion to hire 87,000 new IRS agents to wring more money out of taxpayers.
Democrats claim this beefed-up IRS enforcement is solely charged with auditing all of the supposed very wealthy “tax dodgers” who haven’t “paid their fair share.”
The Biden regime has repeatedly claimed that middle class taxpayers won’t feel the wrath of a turbocharged IRS.
Now, a new study from Republicans in the U.S. House punches a major hole in this massive Democrat deception.
A new analysis of Democrats’ so-called “Inflation Reduction Act” revealed that Americans earning less than $75,000 a year are going to see 60% of all new audits from the Biden IRS.
The House Republicans were also sure to point out this was just a conservative estimate based on the IRS’ own tax filing data.
The bill would create 710,863 new IRS audits for Americans making $75,000 or less while high income individuals who make more than $1 million per year would see just 52,295 more audits.
Democrats need to squeeze more money out of taxpayers to pay for all of their socialist spending sprees so middle class Americans who are barely making ends meet must foot the bill.
“Value shoppers at Walmart and other retailers, already struggling with higher prices and more expensive fuel to drive to the store, will get hit with 710,000 additional audits thanks to the Manchin-Biden Democrat bill,” said Rep. Kevin Brady (R-TX) on the study. “Every retailer in the U.S. who cares about their hard-hit customers should be fighting to block this unnecessary harassment of hard-working Americans.”
Americans will be facing a total of at least 1.2 million new IRS tax audits, according to the study.
These increased audits are projected to squeeze an additional $124 billion out of taxpayers.
While Democrats claimed middle-class taxpayers wouldn’t get hammered during Senate debate on the bill, they unanimously rejected an amendment that would have blocked increased audits on people making less than $400,000 – which was a verbatim Joe Biden campaign promise.
William McBride, the vice president of federal tax and economic policy at the nonpartisan Tax Foundation, explained the pain coming for middle-class Americans.
“The fact of the matter is, most returns report income under $100,000,” McBride said. “That’s where the money is, so to speak.”
“They will need to increase the audit rates on middle-class and low-income folks to get the sort of revenues they’re claiming from this,” he explained.
With their time controlling the government coming to an end, Democrats are set to deliver a punch in the gut to middle-class Americans on their way out the door.
Stay tuned to Conservative Underground News for any updates to this ongoing story.