President Obama released his budget plan on Tuesday, with proposals for expanding a number of tax breaks along with the budget of the Internal Revenue Service.
The President’s budget, set at $3.9 trillion for fiscal year 2015, includes proposals that would invest $12.5 billion in the IRS to improve service to taxpayers and reduce the deficit through more effective enforcement; double the maximum value of the Earned Income Tax Credit for childless workers; improve tax benefits that help middle-class and working families pay for child care and college and save for retirement; and tax reform that will “curb tax breaks that benefit the wealthiest, and ensure that everyone is paying their fair share.”
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