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$500B in Lost Tax Revenue? Unlikely, Cato Scholar Says
Features March 24, 2025 at 01:46 PM
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What You Need To Know
- Unnamed officials have told the Washington Post that they expect a $500 billion drop in tax revenue due to mass IRS job cuts.
- The gap between taxes owed and taxes paid has remained stable over time, Cato's Chris Edwards says.
- Cutting IRS staff will cause taxpayer service problems but won't lead to a new wave of tax cheating, he predicts.
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