What You Need to Know
- The SEC would get a $74 million boost from the fiscal 2021 enacted level.
- Sen. Leahy released Monday the remaining nine appropriations bills for fiscal 2022.
- An IRS increase will allow the agency to address the annual tax gap, he says.
A Senate Appropriations Committee bill released Monday would provide the Securities and Exchange Commission with $1.999 billion in 2022 — a $74 million boost from the fiscal year 2021 enacted level and the same as President Joe Biden’s budget request.
The Internal Revenue Service, meanwhile, could get $13.582 billion, a $1.639 billion boost from the fiscal year 2021 level and the same as Biden’s budget request.
The fiscal year 2022 Senate Financial Services and General Government bill provides $29 billion, which is $4.777 billion more than the fiscal year 2021 enacted level, and $154 million less than the Biden’s budget request.
Senate Appropriations Committee Chairman Patrick Leahy, D-Vt., released Monday the remaining nine Fiscal Year 2022 Appropriations bills.
The IRS increase, Leahy said, will allow the agency “to address the annual tax gap estimated to be between $500 million and $1 trillion annually, to improve its customer services activities, and to address the agency’s aging IT infrastructure.”
The amount allocated for the SEC includes $7 million for costs associated with a replacement lease for the Commission’s Fort Worth Regional Office.