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Fact Check: Joe Biden Falsely Claims Working, Middle Class Will Not ‘Pay a Penny More’ as Result of IRS Audits

by John Binder


CLAIM: While signing the “Inflation Reduction Act” into law on Tuesday, President Joe Biden said no Americans “earning less than $400,000 a year will pay a penny more in federal taxes” as a result of billions to drastically boost Internal Revenue Service (IRS) audits.

VERDICT: False. The Inflation Reduction Act does not include any provisions requiring the IRS to avoid targeting working and middle class Americans with new IRS audits. In fact, the Congressional Budget Office (CBO) estimates that about $20 billion will be squeezed from Americans earning less than $400,000 a year as a result of the audits.

“I’m keeping my campaign commitment. No one … no one earning less than $400,000 a year will pay a penny more in federal taxes,” Biden said, referencing his 2020 campaign talking point that vowed not to raise taxes on working and middle class Americans…


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