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News Posted on March 29, 2017

Professor Ventry Publishes Op-ed in New York Times on IRS Budget Cuts

Professor Dennis Ventry published an op-ed in the New York Times regarding President Trump’s proposed cuts to the Internal Revenue Service budget. Ventry writes that budget cuts to the agency would be counter-productive because “Every dollar spent on the agency returns $4 in revenue for the federal government, and as much as $10 when invested in enforcement activities,” an observation that Trump’s Treasury Secretary, Steven Mnuchin, has also made. 

The president would be better off reinvesting in the I.R.S. as a means of funding some of his budget priorities, Ventry writes.

“Since $1 in I.R.S. appropriations yields at least $4 in additional revenue (and, again, as much as $10), cutting $239 million from the I.R.S. would reduce revenue by nearly $1 billion, and perhaps by as much as $2.39 billion,” writes Ventry.  “Alternatively, if the president reinvested in the I.R.S. with, say, $1 billion, he could generate at least $4 billion (and as much as $10 billion) toward bridges and roads, Medicare and, yes, aircraft carriers.”

Professor Ventry is an expert in tax policy and legal ethics. His research interests include tax expenditure analysis, family taxation, professional responsibility and standards of care, tax filing and administration, tax compliance, public finance, and tax and legal history. In addition, he is vice chair of the IRS Advisory Council, and co-author on the casebook, Federal Income Taxation with Martin McMahon, Jr., Daniel L. Simmons, and Bradley T. Borden.