The proposed funding would be an increase of two-thirds over the agency's entire budget for for past decade.

The 10-year proposal would also include new disclosure requirements for small business owners not organized as corporations, as well as other wealthy people who could be hiding income from the IRS. Those using so-called pass-through corporations (such as the one the Bidens used to funnel $13 million through tax loopholes), as well as people holding wealth in 'opaque structures,' would be subject to new reporting requirements.

The additional money and enforcement power will accompany new disclosure requirements for people who own businesses that are not organized as corporations and for other wealthy people who could be hiding income from the government.

The Biden administration will portray those efforts — coupled with new taxes it is proposing on corporations and the rich — as a way to level the tax playing field between typical American workers and very high-earners who employ sophisticated efforts to minimize or avoid taxation. -New York Times

According to the report, some $700 billion in tax revenues recovered over 10 years by the beefed-up IRS will help pay for Biden's next stimulus injection - dubbed the "American Families Plan" - which is expected to cost at least $1.5 trillion. It will follow Biden's $2.3 trillion infrastructure package, which follows some $5.3 trillion already passed for pandemic relief (Ethereum hit all-time highs today, coincidentally).

The new plan would include universal prekindergrten, a paid federal leave program, and childcare affordability measures - as well as free community college for all.

Biden also plans to pay for his printing bonanza by raising the top marginal income tax rate for wealthy Americans to 39.6% from 37%, and wants to raise capital gains tax rates for those earning over $1 million per year - including income received through stock dividends.