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U.S. Treasury Secretary Janet Yellen speaks at a press conference in Nusa Dua, Bali, 14//7/2022. ANTARA FOTO/POOL/Made Nagi/pras/rwa.

KONTAN.CO.ID - WASHINGTON, Aug 10 (Reuters) - U.S. Treasury Secretary Janet Yellen told the Internal Revenue Service on Wednesday that if the Inflation Reduction Act became law additional IRS resources should not be used to increase audit rates on taxpayers making under $400,000 a year.

The legislation, which passed the Senate over the weekend with no Republican support, increases the IRS budget by about $80 billion over 10 years.

Democrats say beefing up IRS enforcement will increase tax collection and help pay for the $430 billion bill, which tackles climate change and lowers prescription drug costs for seniors, among other provisions.

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