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1 Estimated Revenue Effects of Increased Funding for the Internal Revenue Service in H.R. 5376, the Build Back Better Act 1 (November 18, 2021)

handle is hein.congrec/cboeseffif0001 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Phillip L. Swagel, Director U.S. Congress Washington, DC 20515 November 18, 2021 Honorable Lindsey Graham Ranking Member Committee on the Budget United States Senate Washington, DC 20510 Re: Estimated Revenue Effects of Increased Funding for the Internal Revenue Service in HR. 5376, the Build Back Better Act Dear Senator: This letter responds to your request for information about the revenue effects of an increase in funding for the Internal Revenue Service (IRS) that would be provided by the current version of H.R. 5376, the Build Back Better Act (Rules Committee Print 117-18 incorporating a manager's amendment by Congressman Yarmuth). The Congressional Budget Office estimates that the funding for tax enforcement activities provided by the bill would increase outlays by $80 billion and revenues by $207 billion, thus decreasing the deficit by $127 billion, through 2031. That change in revenues is not included in CBO's estimate of the budgetary effects of the Build Back Better Act. What Would the Legislation Do? Sections 63001 and 138401 of H.R. 5376 would provide mandatory funding for the IRS and for related tax enforcement activities of the Departments of the Treasury and Justice. The funding would be for a variety of IRS activities (including enforcement), U.S. Tax Courts, the Department of Justice's Tax Division, and the Treasury Inspector General for Tax Administration. The provisions of H.R. 5376 are substantially www.cbo.gov

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