Biden seeks $80BN for IRS enforcement to fund family programmes

The Biden administration hopes allocating an additional $80bn to boost the United States Internal Revenue Service’s auditing capabilities will help pay for its American Families Plan.

United States President Joe Biden will seek $80bn to strengthen US tax audit capabilities to help foot the bill for expanding paid leave for workers, childcare and education, Bloomberg News reported Tuesday. Biden’s American Families Plan, set to be unveiled before Congress on Wednesday, is expected to cost over $1 trillion and potentially as much as $1.8 trillion. The sweeping economic agenda could impact millions of Americans and help them better balance work and family life. The administration hopes that its plan to boost the budget of the Internal Revenue Service (IRS) over the next decade will help fight tax evasion through audits of wealthy individuals and large corporations, Bloomberg News reported, citing a person familiar with the proposal.