FACT CHECKERS EXPOSE FALSE ATTACKS ON INFLATION REDUCTION ACT

The Inflation Reduction Act will lower prescription drug costs, make investments in clean energy, and ensure corporations pay their fair share in taxes. It’s a historic win for the middle class. Yet despite this victory for American families, special interest groups continue to spread misinformation about the bill. Many of these claims center on the Internal Revenue Service.

Let’s take a look at what fact checkers are saying…

PolitiFact: “Kevin McCarthy’s mostly false claim about an army of 87,000 IRS agents”

  • “The 710,000 audit estimate runs counter to the stated policy of the IRS and is based on a flawed use of a CBO estimate that assumed much higher spending on enforcement than is in the current Democratic bill. We rate this claim Mostly False.”

Washington Post Fact Checker: “Hyperbolic GOP claims about IRS agents and audits”

  • “The Biden administration is planning to hire 87,000 IRS employees over the next 10 years — not IRS audit agents — and many will be replacing people who will retire soon. That’s a big difference… McCarthy earns Three Pinocchios.”

Time Magazine: “Trump Allies Are Attacking Biden For a Plan to Hire 87,000 New IRS Agents That Doesn’t Exist”

  • “It’s a notion that has taken off like wildfire… There’s only one problem. It’s not true… Nobody likes to fork over a big check to Uncle Sam. Which is a big reason why Republicans are likely to keep hammering this point in the coming months, and potentially pointing to 87,000 new IRS agents who will never materialize.”

AP Fact Check: “GOP skews budget bill’s impact on IRS, taxes”

  • “Republican politicians and candidates are distorting how a major economic bill passed over the weekend by the Senate would reform the IRS and affect taxes for the middle class…”
  • “The Treasury says it will hire experienced auditors and workers who will improve taxpayer services, and that audit rates for those earning less than $400,000 are not expected to rise in relation to historic norms. So that’s a long way from hiring 87,000 “agents” to go after average people in the United States, as the GOP claims have it. In any case, the bill has no mandate to hire that many people.”

Politico: Joint statement from a bipartisan group of former IRS commissioners

  • “In fact, for ordinary Americans who already fulfill their tax obligations, audit scrutiny will decline, because the IRS will be better at selecting returns for examination. This bill is about getting to the heart of the problem and pursuing high-end taxpayers and corporations who today illegally evade their tax obligations.”

About Invest in America

Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.

The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

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