JCT tables follow. (Prior chart was for 2027 and calculated from JCT tables.) 2/

New JCT distributional estimates of proposed tax changes by the Senate Finance Committee. Compared to current law, the bill heavily skews benefits to the wealthy as a share of after-tax income. 1/

The President just effectively signed a statement that he is committing a crime, violating a criminal statute enacted with overwhelming bipartisan majorities (it passed 96-2 in the Senate). Here is the law and his post. 1/3

Now R lawmakers are silent when the President – the most political actor of all! – is pressuring the IRS to revoke the tax exempt status of nonprofits he doesn’t like. 10/

One of the recommendations from the bipartisan Senate Finance Committee report was that *anyone* with influence over whether and how tax exempts are reviewed and audited should be precluded from participating in political work, even when off-duty. 9/

The mass firings threaten to take us back to an IRS that was struggling to function even a few years ago. Call wait times skyrocketed when Congress cut IRS’s funding from 2010-2022 and then fell dramatically when Congress restored IRS funding to its historic levels. 3/4

Mass layoffs at the IRS will increase deficits. Every $1 spent on the IRS reduces deficits by $6. The return is even higher when resources are focused on addressing evasion and avoidance by the most wealthy. 5/5