IRS Funding: Lawmakers Target Another $11.7 Billion In New IRS Cuts [Forbes]
3M Company (MMM)
Last 3m company earnings: 4/28 06:30 am
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Source: Forbes
in additional funds that were aimed at enhancing its infrastructure and building up its workforce. Of the original $80 billion in additional IRS funding, only $37.6 billion remains authorized, with roughly $19.3 billion still available to be spent. Lawmakers are now proposing to remove $11.7 billion of that funding in advance of the potential government shutdown next week. This article discusses what the original $80 billion in funding meant and why these funds are once again being targeted. IRS Funding Under The Inflation Reduction Act Of 2022 The Inflation Reduction Act of 2022 provided a 10-year boost to the tune of $80 billion to improve the IRS's ability to administer taxes more effectively. Among this $80 billion, $46 billion would be allocated to enforcement, $25 billion to operations support, $5 billion to business modernization, and $3 billion for taxpayer services. While most government expenditures result in net revenue outflows to the government, this funding does no
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MMM
Earnings
- 1/20/26 - Beat
MMM
Sec Filings
- 2/4/26 - Form 4
- 2/4/26 - Form 4
- 2/4/26 - Form 4
- MMM's page on the SEC website