Emergency aid to Israel, recently passed in the U.S. House, is now the subject of contentious debate in the U.S. Senate. At issue is the source of funding. Republicans propose to rescind $14.3 billion of the $80 billion (over 10 years) appropriated to the IRS to beef up tax enforcement and make customer service and technology changes. Democrats oppose the plan, stating that the IRS needs the funds to ferret out wealthy taxpayers who cheat on their tax returns, and that those making less than $400,000 generally won’t be targeted. Republicans rebut that claim, stating that the primary focus of the IRS funding will hurt small business owners and others making under $400,000. Stay tuned.
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