Daily Caller News Foundation
By Jack McEvoy
The Democrats’ massive climate spending package, which President Joe Biden signed into law on Tuesday, will give over $40 billion to the Environmental Protection Agency (EPA), just as the bill allocates almost $80 billion to expand the Internal Revenue Service (IRS).
The bill, dubbed the Inflation Reduction Act, includes $369 billion in total climate spending, and will give the EPA more than $40 billion in the current fiscal year to combat climate change, enforce environmental standards and secure “environmental justice,” according to a Congressional Research Service report. The EPA’s enacted budget for 2022’s fiscal year was about $9.5 billion, according to the agency figures, meaning the bill will more than quadruple the EPA’s current annual spending.
The IRS will use its $80 billion in new funding to hire 87,000 new agents as well as ramp up auditing and other enforcement mechanisms. Democrats claim that these measures will raise $124 billion in revenues from increased taxpayer compliance, according to their summary of the bill. more here