With the Inflation Reduction Act approved in a close 51-50 vote this week, many are waiting to see the effects of the bill. However, the GOP believe that a certain provision on the bill may be of concern.
According to the bill, there will be approximately 87,000 IRS agents would be hired, in an effort to find people that were known to cheat on their taxes. While the Democrats cheered on the actions of the bill, certain members of the GOP are very concerned about it.
Republican National Committee spokesman Tommy Pigott noted to the Washington Examiner, “Seriously, how out of touch do you have to be to brag about forcing a purely partisan bill through the Senate that raises taxes on the middle class, makes inflation worse, lowers after-tax income for Americans at every income level, decreases economic growth during a recession, and sends an army of IRS enforcers after grandma?”
Texas Republican Senator Ted Cruz also provided his opinion on the matter, as the bill will “target Americans with 1.2 million new audits, more than half of which would be for people making less than $75,000 a year.” He added, “It’s a betrayal of President Biden’s promise to not raise taxes on the middle class.”
Speaking with us now about this bill and the potential effects from it is Steve Beaman, who serves as CEO of Elevare Club. They are a provider of services to small business, so they clearly have some say in the effects of this bill.
Q&A:
- What do you think about the plan to hire 87,000 new IRS agents? Do you feel that there’s any justification for this?
- Do you think the money can be applied better to other departments, or do you feel this is necessary for the IRS?
- In the face of inflation and growing issues with money (especially in post-COVID), could you see people finding ways to continue to “bend” around the system, even with this new hiring?
- Who do you believe the new IRS tax agent division will target? Some are concerned they’ll go after just the middle class, but is this the case?
- Do you believe small businesses will be affected by the hiring of these new agents at all? We know you work with quite a lot of these businesses at Elevare Club.
- Where can you learn more about Elevare Club?
Answer: www.ElevareClub.com
Steve Beaman is a self-made millionaire who sunk to the depths of financial despair and rose back up to the heights of economic prosperity. Having enjoyed years of a happy marriage to falling into the depths of divorce, destruction, and despair, Steve has seen it all. Steve worked at Wharton Econometrics, Zacks Investment Research, and the E.F. Hutton Company. A founding partner of the Wall Street firm Chicago Investment Analytics, Steve sold the firm to Charles Schwab in 2000. Currently, Steve is CEO of Elevare Club, a holding company for a group of companies providing services for small businesses, including the capital, payment processing, accounting, legal, advertising, and even help in hiring. Steve is a licensed scuba diver, a private pilot, and the father of six children.
CONTACT: To schedule an interview with Steve Beaman, call Jerry McGlothlin at 919-437-0001 or email jerry@specialguests.com
