(NewsNation) — A large cash infusion for the Internal Revenue Service is part of the economic package Democrats are working to push through Congress before their August break.
Under a deal worked out by Senate Majority Leader Chuck Schumer and West Virginia Sen. Joe Manchin, the Inflation Reduction Act of 2022 would spend an extra $79.6 billion on the agency over the next 10 years.
The added cash is expected to go toward hiring 87,000 new IRS agents, roughly doubling the agency’s size. The IRS says the money is expected to go toward efforts to crack down on wealthy tax evaders and to modernize its technology.
Democrats say the IRS investment is needed to ensure that corporations and wealthier Americans pay what they owe in taxes.