The Internal Revenue Service’s admission that it inappropriately targeted conservative political groups for special scrutiny during the 2012 presidential election only gives congressional Republicans more ammunition as they try to defund and weaken the agency.Don't you feel better now?
For the past few years, Republican lawmakers have sought to slash the funding of the IRS. Reducing the agency’s budget makes it more difficult for it to collect taxes and audit individuals. (Score one for Republicans who dislike high taxes).
But, more importantly, the IRS is also one of the key agencies that will implement the Affordable Care Act. Much of the funding stream for the incoming health care law, arguably the president’s signature legislative achievement, comes from two tax increases: a 3.8 percent hike on investment income for wealthy individuals, estates, and trusts, as well as an additional Medicare tax.
Saturday, May 11, 2013
A happy reminder from National Journal: