Tax Highlighter
New Bill Signed Includes Aid for Ukraine
March 14, 2022
On March 11, President Biden signed a $1.5 trillion omnibus spending bill into law. The headline is that the bill includes $13.6 billion in aid for Ukraine. But it also keeps the U.S. government funded through September 30, increases defense spending by $42 billion and boosts the IRS’s budget by $12.6 billion or 6%. That 6%, however, falls short of the 14% increase initially proposed to help the agency as it struggles with backlogs and staffing shortages. And the final bill lacks the $15.6 billion that Biden requested to cover additional COVID-19-related costs. A new, supplemental bill with pandemic provisions is expected to follow.
Posted March 14, 2022
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