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Tipsheet

Democrats' Spending Plan Gives the IRS Massive New Power and Resources

(AP Photo/Al Behrman, File)

The White House has released a new spending framework (not a written bill) to bolster President Joe Biden's Build Back Better agenda before he heads overseas Thursday afternoon. 

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The revenue portion of the plan shows the framework doubles funding the for IRS.

Previously, Democrats and the White House proposed allowing the IRS to monitor bank account transactions of $600. After outrage and criticism, that number was increased to $10,000. This week. Democrat Senator Joe Manchin said he told Biden the idea was "screwed up." 

"They were never enabled to go into bank accounts of an average individual. I told him, the president and I had this conversation," Manchin said during a speech Tuesday. "I said, 'Mr. President, I don't know who put this out and how it got screwed up — when they said basically we're going to start looking at $600 transactions — even if it is $10,000 dollars, that's only $800 or $900 [per month]."

House Republicans are fighting back.

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