IRS cuts cost much more than they save, further growing the deficit, experts say – Wausau Pilot & Review
If the IRS workforce is reduced by 50%, the nonpartisan Yale Budget Lab projects that lost revenues could amount to $395 billion over a 10-year period. Cuts could also increase the number of noncompliant taxpayers such that lost revenue could climb into the trillions, the lab estimates.
“There are very real impacts on people’s lives when decisions like these are made,” said David Helpap, a political science professor at UW-Green Bay.
Cities like Madison and Milwaukee and many nonprofits in the state receive federal money. If top-level agencies continue to see cuts, and if federal revenues decrease, “that’s going to create some real challenges” for communities across the state, Helpap said.
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