Washington, D.C. – September 9, 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 Internal Revenue Service (IRS) announcement of the collection of $1.3 billion in back taxes from wealthy tax-evaders as part of a continuing effort to enforce the tax code.
“As concerns mount over proposals to tax unrealized gains, this initiative continues to prove what we can achieve when we focus on enforcing the tax code already in place. By prioritizing compliance and closing the tax gap, we can generate significant revenue and promote fairness without introducing unworkable and unrealistic taxes on income that hasn’t been realized. This is a common-sense approach to ensure that the wealthy pay what they owe and protect our tax system.”
Read more about the efforts from the IRS 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.
###
