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High return from the Inflation Reduction Act

2024-02-07 20:09:35.04624+01 by Dan Lyke 0 comments

U.S. Department of the Treasury, IRS Release New Analysis Showing the High Return on Investment from Inflation Reduction Act Resources

Today the U.S. Department of the Treasury and Internal Revenue Service (IRS) released a new analysis showing the high return on the Inflation Reduction Act (IRA) investment in rebuilding and modernizing the IRS. Taking a more comprehensive approach to evaluating the transformational initiatives enabled by the IRA, the IRS estimates in a new paper “Return on Investment: Re-Examining Revenue Estimates for IRS Funding” that the IRA as enacted would increase revenue by as much as $561 billion over 2024-2034, substantially more than earlier estimates. If IRA funding is renewed when it runs out, as the Administration has proposed, estimated revenues would be as much as $851 billion.

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