— #funding that nonpartisan scorekeepers said would #reduce the budget #deficit by helping the gov collect more of the #TaxRevenue it is owed…. #Democrats have championed the initiative, but #Republicans have denounced it, claiming falsely that the money would be used to fund an army of auditors to go after working people.…

As the deal stands, the #IRS $ would essentially shift to nondefense #DiscretionarySpending, …to avoid further cuts in programs like education & environmental protection….

#Spending on the #military would grow next year, as would spending on some #veterans’ care that falls under nondefense #discretionary spending. The rest of nondefense #DiscretionarySpending would fall slightly — or roughly stay flat from — this year’s levels.

It would also roll back $10B of the $80B #Congress approved last year for an #IRS crackdown on high earners (#wealthy) & #corporations that evade #taxes

In exchange for lifting the #DebtLimit, the #deal would meet #Republicans’ demand to #cut some federal spending, albeit w/the help of accounting maneuvers that would give both sides #political cover for an agreement likely to be unpopular w/large swaths of their base voters.

It would impose #caps on #discretionary spending for 2 yrs, though those caps would apply differently to spending on the #military than to other #nondefense #DiscretionarySpending.

How Much Lifetime Social Security Benefits Are Americans Leaving on the Table? Americans are notoriously bad savers. Large numbers are reaching old age too poor to finance retirements that could last longer than they worked. https://kotlikoff.net/wp-content/uploads/2022/11/How-Much-Lifetime-Social-Security-Benefits-Are-Americans-Leaving-on-the-Table-11-16-22.pdf #Retirement #SocialSecurity #Pensions #OldAge #DiscretionarySpending