WASHINGTON- Yesterday, Senator Bernie Moreno (R-OH) introduced a new bill to fund President Donald Trump’s External Revenue Service by reallocating funds previously allocated under Joe Biden’s Inflation Reduction Act to the IRS. President Trump’s External Revenue Service would collect tariffs, duties, and revenues from foreign nations.
“Instead of hounding working Americans with Joe Biden’s army of IRS agents, we should be helping President Trump put our country back on track by correcting decades of bad trade deals,” said Senator Moreno. “The President’s External Revenue Service will put money back in American’s pockets by making sure our adversaries like China stop ripping our country off and finally pay their fair share.”
In 2022, the Biden administration allocated $80 billion in new funding for the IRS over 10 years and planned to hire 87,000 new auditors to target middle-class Americans by mandating that payments over $600 be reported to the IRS.