Rep. Jason Smith (R-Mo.) said Tuesday that the Biden administration is planning to go back to historic IRS audit levels, “which if you go back to 2010,” means 710,000 new audits for those making less than $75,000 a year.”
On Republican efforts to stop the Biden administration from using the IRS to go after middle-class Americans through the hiring of 87,000 IRS employees, Smith said, “Eight months ago, House Democrats, the White House, they passed the Inflation Reduction Act, this $80 billion for IRS, and we have been waiting for a plan. What they released last week was not a plan.
“It was simply a punt, because they don’t want the American people to see their true focus of what they’re wanting to do. They did highlight that they are going to hire 30,000 more employees over the next two years, but they didn’t say what they are doing over the next 10,” he told Fox Business’ “Mornings with Maria Bartiromo.”
“If you are hiring 30,000 employees over the next two years, that’s more than a third of the 87,000 they’re originally supposed to hire over 10, and then they’re not even talking about the audits. They keep saying they’re not going to target people making less than $400,000 a year, but that’s simply not true. You have also to listen to they’re words,” the congressman said.
“They’re saying they’re going to go back to the historic audit levels, which if you go back to 2010, that means 710,000 new audits for people making less than 75,000 dollars a year. That is not a working class Americans need,” Smith said.
On inflation, when asked what is the best lever to pull to get it back on track, Smith said that it’s “pretty simple.”
“It’s to do opposite of what President Biden and his administration has been doing. You have to stop this reckless spending we’ve seen over last two years. They’ve they added 10 trillion dollars in increase of new spending which has led to the highest inflation in 40 years,” the congressman said.
“When you travel this country, Maria, and talk to American workers and families and farmers, they’ll tell you, these — this historic inflation the high interest rates, and the help wanted signs that’s littered across every small business in downtown America is tough in Biden’s economy, but it’s a direct result of his tax and spending policies, that this administration continues to push, and they just doubled down with the president’s most recent budget, $4.7 trillion in tax increases, trillions of dollars in new spending,” he said.
“That’s the wrong recipe for America,” the congressman added.
On the debt ceiling, Smith said that House Republicans have been “working a long time to address this fiscal insanity.”
“We’ve been trying to partner with President Biden, but, unfortunately, President Biden and his administration has had no reckless behavior. They have been refusing to negotiate with Speaker McCarthy and myself, about what are the steps, what are the solutions to increase the debt limit, but, also, address the fiscal insanity,” he said.
“The American people are demanding fiscal accountability in government, and they don’t want a blank check of just more spending in Washington so the white house has to come to the table, but you know what? House Republicans are willing able to move ahead on our own even if this White house refuses to help move the country forward when it comes to a debt limit,” the congressman said.
He said, “House Republicans are looking at a plan that will address the fiscal insanity, and that entails limiting this crazy spending, capping the spending, and growing the economy. Those are the three items that have to be in the middle of this plan. This is our focus.”
Smith proposed taking back unused COVID funds as one way to address spending.
“We are looking at numerous items, whether it’s spending caps, whether it’s taking back unobligated COVID dollars. There’s over $70 billion, still left in unobligated money or whether it’s making sure that we’re addressing work requirements when it comes to able-bodied healthy adults to help address the labor shortage that is crushing our economy right now,” the congressman said.
When asked whether June 5th is the “x date” when the debt ceiling will be raised, Smith said, “The X date will be decided by Secretary Yellen. That’s what the markets will go with, and what date she says will be the date. They said at the beginning June 1st. I believe that after May 9 basically looking at the tax receipts coming in, we will be able to determine will it be mid-June or could it be late July or August.”
Audit this????!
SCARE TACTIC TO KEEP THE MAJORITY OF VOTERS IN LINE…….BIDEN AND HIS ILK ARE PURE GARBAGE
Audit the whole Biden family and their Chinese business associates.
But none of the disaster that is happening anywhere is Bidens’ fault. It’s all the fault of the companies, and the people .
When the top politicians make these rules, they should audit from the top to the bottom. Then they would stop breaking their own rules. Also, penalize them as prolifically that they have penalized others.
Is Biden getting the “no one who makes under $400,000 will be targeted” from the capital gains tax schedule. We just sold a piece of farm property to the farmer that has been farming it for us for years for a little over that. It was the only way we could make repairs and improvements to our home (our roof was leaking like a sieve and our driveway had a huge hole in it). Normally we make less than 1/4 of that a year but since we had one year where we did make over that will we be targeted? Is this another IRS problem we need to worry about? Does a one-time deal put us in the crosshairs? Normally we make less than the $75,000 but it looks to me like if you make any money at all you could be targeted.