Washington, D.C. – July 17, 2024 – Former U.S. Senator John Breaux (D-LA), senior advisor for Saving America’s Family Enterprises (SAFE), issued the following statement in response to the recent announcement from the U.S. Department of the Treasury and the Internal Revenue Service that more than $1 billion in back taxes have been collected from high-income individuals as part of an ongoing initiative to enforce the tax code.
“It is highly encouraging that the Treasury Department has achieved this milestone in closing the tax gap and ensuring that the wealthy pay what they owe. The progress made to collect past-due tax debt indicates the effectiveness of enforcing the existing tax code over new, unworkable guess taxes on hypothetical income that would do more harm than good. The federal government should continue to provide agencies with the resources to support this important work.”
Read more about the initiative here.
About SAFE
Saving America’s Family Enterprises (SAFE) is a bipartisan research and education organization focused on comprehensive tax reforms that raise revenue, increase fairness, promote greater efficiency, and encourage companies to do more business in the United States.
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