With just under a revised 10 days to go until the U.S defaults on its debts, Republicans appear to be edging closer to a major concession for you guessed it: tax cheats.
It’s officially Memorial Day weekend in America which means most things including Washington are closed for the weekend. On Friday, despite not having reached a debt limit deal most politicians in the area effectively went home for the long weekend. This of course has left House Speaker McCarthy and President Biden in an even further difficult spot.
Earlier on in the day, Secretary Yellen reportedly announced that the U.S within 10 days time on 5 June would effectively default. Originally, Yellen had estimated that such would happen by 1 June without an accurate and concrete debt limit deal.
Huff Post reports that the White House may be nearing a new offering for Republicans in the form of slashing $10B from the proposed $80B in IRS funding Republicans have long argued that additional funding for the IRS would create ‘armed agents’ but that simply was another right-wing talking point. Republicans are gunning for yet again to protect wealthy tax cheats in the name of ‘serving the American people.’