(Bloomberg) -- Treasury Secretary Janet Yellen said Congress’ clawback of more than a quarter of the funding previously approved for a rebuilding of the Internal Revenue Service won’t hinder the agency’s near-term goals to improve service and ramp up enforcement.
“I want to assure you that the IRS has the resources it needs in the near term – to modernize customer service and improve enforcement among high earners and large corporations that are not paying the taxes they owe,” Yellen said in a speech Thursday.
“We plan to continue to advocate for additional resources to make service improvements and help ensure that high-end taxpayers pay their fair share.”
As part of a deal to cap spending and suspend the debt ceiling, President Joe Biden agreed last month to redirect $21 billion away from the IRS over a decade.
Last year, with Congress under Democratic control, lawmakers approved an $80 billion spending plan, over 10 years, aimed at modernizing outdated computer systems, boosting customer service and increasing enforcement efforts focused on high-income earners and large corporations.
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