Biden’s Crackdown on Wealthy Tax Cheats is Paying Dividends Despite House Republicans’ Attempts To Stop It!

The IRS Has Recovered $1 Billion in Unpaid Taxes from Millionaires

NEW YORK — Today, the U.S. Department of the Treasury and the IRS announced that the Biden Administration’s crackdown on ultra-wealthy tax cheats has officially recovered $1 billion in unpaid taxes. The initiative is part of President Biden’s signature legislation, the Inflation Reduction Act, which gave the IRS $80 billion over the next 10 years to modernize its systems and hire additional agents for audits on individuals with over $1 million of income.

Today’s announcement proves that Biden’s investment has been a resounding success. Nevertheless, House Republicans like New York Reps. Anthony D’Esposito, Marc Molinaro, and Brandon Williams have spent much of the last two years attempting to claw back this funding under the guise of ‘fiscal responsibility.’ Studies show that every dollar spent auditing the wealthiest 0.1% returns more than six dollars in revenue.

Maria Martinez, Executive Director of Empire State Voices, released the following statement:

“This is a win for working people everywhere. While millions of New Yorkers work hard and play by the rules, there are some at the very top who do everything in their power to avoid paying their fair share. The Biden Administration’s crackdown on these ultra-wealthy tax cheats is making sure they no longer get to play by a different set of rules.

The fact that Representatives D’Esposito, Molinaro, and Williams have relentlessly fought to undermine these efforts is proof of where their priorities truly lie. They haven’t fought for their constituents—for the working families of New York who are just trying to make ends meet. They’ve been fighting for the millionaires and billionaires that the Biden Administration is cracking down on.”

To learn more about the campaign, contact press@empirestatevoices.org

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About Empire State Voices

Empire State Voices (ESV) is a multi-year campaign dedicated to amplifying the voices of everyday working New Yorkers. ESV is fighting for economic policies that make life more affordable for constituents and holding Members of Congress across the state accountable when they fail to do the same.