Friday, July 1, 2011
CBO Released Analysis Of Impacts Of 2012 Budget To Increase IRS Appropriations By $13 Billion
The Congressional Budget Office (CBO) on June 24 released an analysis of the budgetary impacts of the proposal in the President Obama's fiscal year 2012 budget to increase IRS appropriations by $13 billion over the next decade to fund initiatives to enhance tax compliance. The administration estimated that the proposal would increase revenues by $56 billion over the 2012—2021 period. CBO, assisted by the Joint Committee on Taxation, estimates that the proposed increase in IRS appropriations would increase revenues above CBO's baseline projection by $42 billion over the 2012—2021 period. For congressional scorekeeping purposes, those additional revenues would not be counted as an offset to such spending pursuant to congressional scorekeeping guidelines, CBO noted. Additional information is available at http://www.cbo.gov/ftpdocs/122xx/doc12260/06-23-Additional_Info_Program_Integrity.pdf.