More than $219 million in income taxes owed by Montanans went unpaid in fiscal year 2020, according to estimates by the state Department of Revenue.
Those unpaid taxes are part of a larger “tax gap” of the under-collections. The U.S. Treasury Department estimates undercollected federal income taxes will short the U.S. government $7 trillion over the next decade.
The money is being eyed by President Joe Biden’s administration was a way to pay for climate change action and a broad expansion of the nation’s social safety net, including Medicare benefits, public education, and affordable housing. The sum of that spending could be as much as $3.5 trillion, though the amount seems to be declining to satisfy a couple holdout Democrats in the Senate.
Biden’s plan for getting those unpaid taxes in the bag isn’t sitting well with Montana’s delegation. The president is asking for more stringent reporting from banks. Neither Senators Steve Daines, a Republican, or Democrat Jon Tester are on board.
“This is an intrusion on the privacy of law abiding Montanans, and Americans,” Daines said at a Senate Banking Committee hearing Sept. 30. “In the wake of several cyber-attacks, and the potential insider leaks of information from Treasury and