Janet Yellen: ‘A Strong IRS Is Critical To The Economic Success Of This Country’

Janet Yellen: ‘A Strong IRS Is Critical To The Economic Success Of This Country’


Treasury Secretary Janet Yellen lauded the Biden administration’s efforts to provide the Internal Revenue Service (IRS) with an $80 billion raise.

The Inflation Reduction Act provides funds to hire 87,000 new IRS employees over the next decade — more than doubling the agency’s size. During a Thursday speech at the New Carrollton Federal Building in Maryland, Yellen remarked that “adequately funding the IRS is core to our success.”

“It raises the revenue for us to make important investments in our economic strength,” she said. “It makes sure that all Americans are playing by the same rules. It avoids misallocation of resources in the economy at large. And it does so by deterring taxpayers from shifting their activities toward more opaque sources or engaging in tax evasion.”

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