IRS Spends Close to $2 Billion in Tax-and-Climate Law Funds

The IRS had spent about $1.95 billion of its funds allocated from the Democrats’ Inflation Reduction Act as of June 30, the Treasury Inspector General for Tax Administration said in a report released Thursday.

The tax-and-climate law, passed last year, gave the IRS nearly $80 billion for enforcement, customer service, and technology improvements, though about a quarter of those funds are slated to be pulled back under a deal between the White House and former House Speaker Kevin McCarthy (R-Calif.) earlier this year.

The IRS used about 2.5% of its $78 billion by June 30, the largest ...