House Speaker Mike Johnson cited concern about “fiscal stability” in saying that a Republican bill to provide aid for Israel would have “pay-fors in it.” But the legislation would increase the deficit, not pay for itself.
President Biden and Democrat Charlie Crist have said that they don’t support calls to defund the police. And a law that both men supported provides funding for the IRS to potentially hire tens of thousands of new employees — mostly in customer service, not tax auditing, bureau officials have said. But a Florida GOP ad makes distorted claims about both issues.
After Congress passed the Inflation Reduction Act, which includes funding to increase staff at the IRS, social media posts falsely claimed members of Congress “voted to exempt themselves from IRS auditing of their personal finances.” An IRS spokesperson told us “there is no such special exemption,” and we found no such vote had been taken.
The IRS Criminal Investigation division’s “Adrian Project” educates the public about the IRS through community outreach sessions with high school and college students. Posts on social media are sharing a video from one of the sessions to falsely claim it shows agents in training. The images were posted by a New Jersey university in 2017 and earlier this year.
The Inflation Reduction Act includes $79 billion for the IRS. Social media posts misleadingly claim the IRS will now hire “87,000 new agents” to investigate average citizens. But most new hires will provide customer services, and enforcement efforts will be aimed at “high-income and corporate tax evaders,” a Treasury Department spokesperson said.
To help detect unreported income and narrow the gap between federal taxes collected and owed, the Biden administration has proposed expanding annual reporting requirements for banks and other financial institutions to include the total amounts of money flowing in and out of all business and personal accounts worth at least $600.