but the i.r.s. is one of the most powerful forces in our lives and i think all of us as americans, and i have heard this so many times, when i go back home, i'm sure you've heard it and feel the same way. people say i don't mind paying my taxes as long as the moneys i put in get used the right way. but i do fear the agency with which i have to interact. let's work together to hold this agency accountable. not all members of the i.r.s. who we're criticizing or looking at right now, we're talking about there are certain things that happen within that agency that absolutely are terrifying to the average american. we, as a body, representing everyone in this country, needs to take a look at where it is that we're failing and where it is that this agency has failed and why it has become such an intimidating agency. you want to restore the faith in any of our agencies, or any of the things we do in our life, you do it by actually working within the framework of that agency and looking at what we can do as

i think because the overhang of some of i.r.s. issues that we had with the i.r.s. targeting conservative groups, i think we saw tax returns from the wealthiest individuals just all of a sudden public information -- where did that come from? there has to be some sort of a leak. i think these things feed on each other, and the trust of the i.r.s. knocking at your door. and the other thing is the parameters which the democrats set forward in terms of getting to -- the president told me $700 billion, and i think he came off of that figure, would be that banks would share records, your accountants would share records. are we getting into a fine line of invasion of privacy and privacy of financial records? these issues, i think, are very sensitive to us as republicans. i think in the end, the group knew we wouldn't -- to the amount they wanted, we couldn't go with the tax gap. i expect that to be in their larger bill, their $3.5 trilln large bill. >> woodruff: senator, you expressed concern also about this infrastructure legislation being tied to the separate $3.5 trilli

what happens if the i.r.s. disagrees with the estimate of the value of your family farm or business? do you have to take the i.r.s. to court? will the i.r.s. take you to court? in addition, mr. president, there's a very real danger that americans would be paying taxes on nonexistent gains, in part due to inflation and the natural expansion of the economy. recent economic reports are raising concerns that with the administration's robust new entitlement spendings, americans could be shouldering the burdens of significant inflation now and long into the future. but democrats' new death tax would not count for inflation none an asset like a farm which means americans would be paying a lot of money in taxes on nonexistent gains. finally had i want to talk about the threat that this tax poses to family farms and businesses. democrats claim that they will defer this tax for family farms and businesses as long as a member of the family inherits and then runs the farm or business. but it's completely unclear what this

while there was agreement, of course, on the support for the i.r.s. step that would have just ensured that some of the wealthiest americans paid what they owed in taxes, some have backed away from that. there are other ways they are discussing. we are open to alternatives. very open to alternatives from this end. we'll let those conversations happen privately. and be supportive of them from our end. reporter: the agreement does rely on things like public-private partnerships to pay for construction. could you talk about the difference in user fees? why is tolling and users fees, but -- jen: his fundamental base point is that we can't risk taxes for individuals making less than $400,000 a year. in terms of the specific tolling pay for, i have to get more specific details on that. in his view nothing violates his commitment on the $400,000. go ahead. reporter: the american academy of pea at tricks today recommended that everyone wear a mask in schools regardless of their vaccination status. that's the only way to keep the kids safe. the c.d.c. guidance

in that case the i.r.s. targeted conservative groups to increased and unnecessary scrutiny, effectively trying to silence their political beliefs. now as president joe biden has made it clear that his administration will weaponize big tech to go after conservatives too. there's a trend here and congress must act. people and organizations should not be silenced because of their political beliefs. if it can happen to conservatives, it can happen to liberals too. so every member of this body has a duty to protect their constituents from potential i.r.s. abuse. my amendment would help make sure things like the lois learner scandal never happen again at the -- lerner scandal never happen again at the i.r.s. i ask my colleagues to join me in voting for this commonsense amendment. with that, mr. speaker, i yield back. the speaker pro tempore: the gentleman from idaho reserves. the gentlelady from connecticut is recognized. ms. delauro: mr. speaker, i yield myself 45 seconds. the en bloc amendment includes a number

the i.r.s.rns by the end of tax season in may, 35 million returns still needed to be manually processed the fact, nearly three times larger than it was in 2020 and a four fold increase from the year earlier the report blaming covid and lock down for all of the pile-up. tiktok dropping the hammer and removing more than 82 million accounts in the first quarter of the year according to the company's blog some of the reasons, explicit material, violent extremism and bullying 7 million of the accounts belonged to children under 13. the first time tiktok published the number of underage accounts booted off of the platform 82-year-old wally funk finally go to space thanks to blue origin's jeff bezos in the debut flight funk was part of the mercury 13 space program back in 1961 underwent rigorous astronaut training but never went to space. the crew currently funk, bezos, his brother, mark and a yet to be named passenger that paid $28 million for a seat on wall street, the dow up 131 the s&p up 22. nasda

if this is to work the democrats have a proposal where you turn every bank account into an i.r.s. employ. you do understand if you look at the democrats' revenue proposal, my transactions, my bank balances, my in and out go to the i.r.s. you know this march towards totalitarianism is on every one of these aspects. so it's not enough to just make up fake numbers on what the revenues are going to be. the intrusive nature -- and it won't work. you'll get lots of data that you can functionally use against the american people, but it's not the data that's actually going to get you the revenues. because for those who are really rich, tomorrow will just -- we'll just move our money and currency, we'll do a crypto , we'll do that type of -- crypto, we'll do that token type of transaction and it will be the rest of the american public that gets crushed by this intrusion. so, let's actually sort of dig a little bit more into this. so it's understood that lots and lots of the experts out there, and many of these are just the columnists out there, if you look, some of them are actually on the

that's because the department of justice has just ordered the i.r.s.nd them over to the house ways and means committee. we are yet to hear from the former president.ne i also wto federal ban victions t toe torrow.ny relight >> reporter: nora between 300,000 and one million americans could be subject to eviction next month, but it looks like there will be no extension. the house has adjourned. it didn't look like there were votes in the senate. now president biden is calling on local and state governments to disburse the billions in relief aid that was set aside for this months ago. norah. >> o'donnell: kris van cleave, thank you so much. we're going to turn now to the summer olympics where the u.s. remains on top in the medal count with 41 while china is in a close second with 40. the u.s. women's soccer team need extra time, but they kicked their way into the semifinals. cbs' jamie yuccas has the wrap-. cbs' jamie yuccas has the up from tokyo. >> reporter: veteran forward megan rapinoe struck her familiar victory pose after converting the winning pena

and i.r.s. with budget increases. only furtherering our presence in our lives t contains more than 1,500 earmarks returning us to the pork barrel spending. it contans harmful regulations by no longer exempting producers from greenhouse gas requirements and going to regulations that suppress the price of life cattle. the worst is the absence of the hyde amendment. a traditionally bipartisan provision protecting taxpayers from forced financial complicit in elective abortions. in the bloasted bus democrats purposely omitted the hyde amendment and voiced their support for radical abortion policies. i cannot support legislation that mortgages the future of our children and grand chifrpblt i oppose h.r. 4502. urge my colleagues to do the same. madam speaker, lastly, i rise today to recognize and thank katherine thomas for her tireless and selfless work for all kansans. in the last eight years she has championed canals farmers n 2018 she helped usher in the farm bill to the completion under the direction of senator roberts t

so basically tomorrow if you got direct deposit through the i.r.s.d then you will get the monthly installment for six months. the other half of the money will come your way next year when you file your tax return. you can opt out and get a lump sum next year. some people are interested in doing that. what's interesting here is that president biden and others are suggesting they may be enhanced having it go on for years. some democrats are saying make it permanent. >> dana: of course they are. >> bill: up to 2025. we'll find out whether or not they can do that next year. we went into the way back machine because we went back to 1996 when a democratic president in the white house said this about welfare in america. >> today we are ending welfare as we know it but i hope this day will be remembered not for what it ended, but for what it began. a new day that offers hope, honors responsibility, rewards work, and changes the terms of the debate. >> bill: now the terms of the debate have been flipped entirely, cheryl. we're going back right into that now w

reveal the tax break that sports team owners use >> the team owners are saving millions by telling the i.r.sca saying that steve mall better reported losses between 2024 and 2018 they say dan gilbert lowered his through the cleveland cavaliers, and then their secret is a loophole in the use of depreciation sports team owners got a special clause that applies to sports teams. he can write down the entire $2 billion purchase of the clippers over 15 years. the team owners responded by saying, look, these are the rules. all we're doing is following them >> i think the write down on the clippers might be okay i'm an nba fan. >>> "closing bell" starts right now. >> have a good weekend. >>> welcome to "closing bell." i'm wilfred frost. a very happy friday. the dow and s&p, and nasdaq on track for record closes. let's see what happens. >> i'm courtney reagan in for sara eisen let's look at what's driving the action it appears to have stabilized. financials are leading as banked get a bounce off those yields. san francisco fed president mary daly warning the economic recovery could be at risk because

this is all about politics never before has this district attorney's office or even the i.r.s. criminally charged a company over employee benefits it should be noted former president trump was not charged. let's bring in dave, a reporter from "the new york post" who covers former president trump -- "washington post," apologies david, based on the indictment today, what is your understanding of how the alleged scheme was conducted and what evidence did the prosecutors present? >> well, the prosecutors have . they say there were tw pretty compelling evidence they say there were two sets of books. one set of books for their internal use to keep track of all of the payments they gave to the executives, cash payments, direct deposits, free apartment, a free car, furniture, flat screen tvs, carpet they kept track of that saying if we gave you $100,000 in non-cash compensation, we are going to subtract that from cash and your salary is the same. they treated that as compensationotr set is what they showed to tax authorities. it did not show any of the other stuff beyond the regular sa

more coverage online at ktvu .com >> i'm calling from the i.r.s.ke fear to your heart. >> if you do not pay, you can be arrested. dr. oz: but our scam busted duo is on the case. the red flags to look for. >> they told me not to tell anybody. dr. oz: and how to fight back. >> report, report, and report. dr. oz: plus, when should you listen and when should you hang up? and the biggest shopping scams you might be falling for right now. ♪ dr. oz: has your phone been flooded with calls from unknown number? earlier this year,

..gov/child i.r.s..gov/childtaxcredit or contact your representative for assistance. these payments are going to make an incredible difference to millions and millions of american families struggling with the cost of child care and groceries and housing and health care. recent estimates by the center for budget and policy priorities predict that more than four million american -- four million children children -- will be lifted out of poverty. childhood poverty in america cut almost in half. what an amazing thing that is. just this morning i met with a group of parents in new york whose lives were dramatically improved, thanks to thispologies. hearing their stories, i was moved to hear the relief in their voices that an extra little help is coming their way. the hope that their voices -- in their voices about giving their children a better future. this is an example of the difference between a democratic and a republican majority in the senate. as leader mcconnell openly reminds everyone, not a single republican voted in favor of expanding the child tax credit through

said congress lacked the legislative legitimate purpose now it says the finding was wrong and the i.r.sl fight the decision >>> now they're are you readysh to extend an moratorium on evictions. without action, it expires tomorrow nancy pelosi is not willing to commit to a vote today democrats are still searching for a proposal to gather enough support to pass overall. the white house saying its hands are tied after a recent supreme court ruling that the administration does not have the power to extend the ban on its own. >>> team usa soccer, the women squeaking by the netherlands the next stop, the semis their next opponents -- canada the men's soccer team told a court that the women deserve a higher pay than they do. in a brief, they slapped u.s. soccer for underpaying the women's team for decades. >>> tonight, a look ahead to prime tithe full of olympic coverage, and a man who lent his swimming peel to katie ledecky so she could train for the olympics during the pandemic. >> shep, we'll see you then. >>> disney and walmart, corporate at least, the latest companies announcing vaccine m

three children under six years old will be getting $900 every month in their bank accounts from the i.r.s. there are a lot of small businesses wondering that this extra cash is significant enough to prolong the labor shortage that they're already experiencing because that $900 could be enough to pay for someone's rent or mortgage through the end of the year. it could be an incentive for some parents to stay out of the labor market and stay home. we're outside local beer hall in arlington, virginia. the general manager tells us he raised pay for some positions by 30% and just yesterday updated his job postings to offer a signing bonus on top of that for people who get friends to apply, too. even smaller mom and pop shops are having a very hard time competing with that and cannot sustain paying double in some cases what they were for some positions just last year. i asked labor secretary marti walshe yesterday if he is worried a lot of hirer wages are sustainable in the long run for them. >> i don't know if it would be double. certainly workers deserve opportunities to earn more money as we

and doubling the size of the i.r.s. by hiring an army of new auditors. add on nearly $10 billion for swampy earmarks to pay for pork projects. the list goes on and on and on like the world's longest cvs receipt except you don't expect any savings here, folks. and when you add it all up, the grand total $6.8 trillion. as these bills come due, president biden's reckless spending spree will leave us with buyer's remorse for years to come. it's time to cut up washington's credit card and make d.c. start living within its means, just like every hardworking family across iowa and america do. thank you, madam president. i yield the floor. mr. blunt: madam president? the presiding officer: the senator from missouri. mr. blunt: madam president, when president biden was campaigning last year, he made the pledge over and over again that he wouldn't raise taxes on any american making less than $400,000 a year. frankly, i think that's a good pledge and it's one he keeps making. but right now it seems that the facts would prove that he and frankly our democrat colleag

you have not filed your taxes in the 2019 year you can immediately get help from my office or our i.r.s. tax advocacy in my building at 1919 smith in houston, texas. don't miss the opportunity. it is not a handout but handup. 21,000 800 children are out of poverty because of the largest kids are raised out of poverty. that is expanded across america and millions of children face a new day. families will receive $5,000 300 on average and they are getting 6,000 500 children in my district out of deep poverty. . . thank you air -- thank you chairwoman delauro and appropriators. this year, 2021, in the aftermath of covid-19, this is the year to do it with the appropriations bill. this is the year to do it. again, my theme, a sense of dignity. and where does that take me now? well, one moment i must deviate for a moment, mr. speaker. just indicate that i think the biden-harris team has brought to america a sense of compassion. it has turned anger and ugly words into reaching out to people where they are. that could mean people that oppose them. but they roach out to them where they are and t

what runaway inflation doesn't take from working americans' paychecks the i.r.s. will take to pay for the democrats' never ending spending. we are all going to be paying back the trillions of dollars borrowed to pay for bidenomics, both in higher taxes and in higher consumer costs. and that price, folks, it isn't right. thank you, madam president. i yield the floor. a senator: madam president? the presiding officer: the senator from iowa. mr. grassley: like my colleague from iowa who has just spoken, i travel iowa as well and in holding my county meetings and visiting with employers and employees, not just these last two weeks that we've been in recess but all year, i've been hearing all of what senator ernst has referred to that people are afraid of inflation and a lot of people are old enough to remember the 12% to 15% inflation we had during the mid-1970's to the early 1980's. we don't want to repeat that. traveling iowa is always refreshing to hear directly from my constituents. because as i often say, washington is an island surrounded by reality. midwest see

kinds of government expansion initiatives, including expansions of medicaid, obamacare, the e.p.a., i.r.s., i could go on. this reckless expansion of government after $5 trillion in spending will rock our economy, destroy career opportunities, create permanent dependency on government, and saddle our future american generations with debt. well beyond what the eye can see or what the mind can contemplate. say no to reconciliation, say yes to a responsible bipartisan transportation infrastructure bill, and i yield back. mr. nehls: thank you, my dear friend. i would like to now yield a couple minutes to my great friend from the great state of texas, representative jackson. mr. jackson: madam speaker, i rise today to bring attention to a serious issue facing my home state of texas and millions of americans. the biden border crisis. things at our southern boarder have gotten worse by the day since joe biden and kamala harris took office. for example, illegal immigration numbers were up 450% in june compared to june of last year. june was the fourth straight month with over 170,000 apprehension

..gov/child i.r.s..gov/childtaxcredit or contact your representative for assistance. these payments are going to make an incredible difference to millions and millions of american families struggling with the cost of child care and groceries and housing and health care. recent estimates by the center for budget and policy priorities predict that more than four million american -- four million children children -- will be lifted out of poverty. childhood poverty in america cut almost in half. what an amazing thing that is. just this morning i met with a group of parents in new york whose lives were dramatically improved, thanks to thispologies. hearing their stories, i was moved to hear the relief in their voices that an extra little help is coming their way. the hope that their voices -- in their voices about giving their children a better future. this is an example of the difference between a democratic and a republican majority in the senate. as leader mcconnell openly reminds everyone, not a single republican voted in favor of expanding the child tax credit through

because the i.r.s. for some reason thinks the bible is too close and too closely associated with the republican party. that is ridiculous. absolutely ridiculous. it's sad commentary on where america is today. what's next is the i.r.s. going to start pulling tax-exempt status from churches. i hope not. but we're adding all these other agents, we're going to run into more and more problems. before congress even thinks about giving the i.r.s. a dime more, the agency must demonstrate that it treats all americans -- and i repeat, all americans -- equally and protects their personal tax information. individuals responsible for the most recent leak must be prosecuted. we have got to get control of the i.r.s. for some reason, they are out of control. sadly, there's more. the president's administration also has its sights on small business owners. and this is huge in my state and a lot of other small states in this country, especially in farming communities. business owners, family farmers, middle-class american

it would politicize the i.r.s. by allowing the i.r.s. to consider organizations' beliefs when deciding whether or not to grant them tax-exempt status, and the list goes on. no less an organization than the american civil liberties union opposed -- opposed -- h.r. 1 in the last congress because the bill would, and i quote, unconstitutionally burden speech and associational rights, end quote. let me just repeat that, mr. president, for emphasis. the american civil liberties union opposed this legislation because it would unconstitutionally burden speech and associational rights. mr. president, in his speech last week, president biden expressed concern about states is like georgia, and i quote, moving from independent election administrators who work for the people to polarize state legislatures and partisan act terse who work for political parties, end quote. you maybe wonder if the president even knows what's in h.r. 1 because h.r. 1 would make the federal election commission the primary enforcer of election law in this country into a par

so wouldn't you just love to see an i.r.s. auditor pull up to your tax audit in a $97,000 tesla?by the way, the biden administration's own statistics admit the comparable gas-powered vehicle would cost taxpayers tens of thousands less. democrats have even floated big federal giveaways for electric school buses with zero help if rural schools need to replace a diesel bus with another diesel. just what rural school boards have been longing for. don't forget democrats especially using federal dollars to remodel or reconstruct millions of homes and buildings they find insufficiently green. i remember awhile back when democrats won outlets lie of the year award for promising if you like your doctor, you can keep your doctor. maybe this year we'll feature a remake. if you like your house, you can keep your house. one massive effort to upend life in places like kentucky, west virginia, and iowa and all throughout america's heartland until it fits the facist west coast millions, another push for the unworkable green new deal on american families who do not want it. and this is just one c

let me end with a history of the i.r.s. because this legislation is a story of -- of irony if you consider how we got to the renewable fuel standard in the first place. you see, big oil wanted it. why did they want it? well, a lot of states where they had smog had what they call the oxigenate requirement that was in the clean air act that congress has passed over the decades. so in order to meet that standard, big oil would add what they call mtbe, a product made out of petroleum that they added to their gasoline to -- to meet the oxygen standards to reduce smog. so after a long period of time people realized that the mtbe was poisoning groundwater in california, maybe other places as well, but i remember mostly the conflict being in california, and they were being sued. so by 2005 big oil decided they didn't want to be sued and what could they do to get out of it? well, the r.f.s. was the answer. so i was chairman of the finance committee at the time. they came to us with the ideas of the irfs and it fit into a lot of thin