Taxes

White House doubles down on fight for extra IRS funding

The Biden administration defended its plan to increase funding for the IRS by nearly $80 billion, arguing in a memo to congressional Democrats the additional money could help the agency crack down on wealthy tax dodgers and recover billions in lost revenue.

Economist on inflation: The Fed needs to taper now

University of Maryland Economist Peter Morici, Gibbs Wealth Management's Erin Gibbs and Optimal Capital Director of Strategy Frances Newton Stacy discuss the U.S. economic recovery, AOC's 'tax the rich' dress and inflation.