Wednesday, December 10, 2014

Child Tax Credits Overpaid by $20 billion


Sessions Comments On IG Report Revealing $20 Billion In Improper Tax Credit Payments Last Year
 
WASHINGTON-U.S. Senator Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee and a senior member of the Senate Judiciary Committee, issued the following statement today regarding a new report<http://www.treasury.gov/tigta/auditreports/2014reports/201440093fr.pdf>, just released by the Treasury Inspector General for Tax Administration, finding that $20 billion or more in improper payments were disbursed under just two tax credit programs in a single year:
 
"The President's own Treasury Department Inspector General has found that one in four dollars of Earned Income Tax Credit payments were made in error last year-amounting to more than $14 billion. What's more, the Additional Child Tax Credit was paid in error as much as 30 percent of the time.
 
This is unimaginable. Clearly, the new Republican Congress must restore immediate control and oversight of these programs.
 
Today's report comes on the heels of revelations that the Obama Administration will, as part of the President's illegal executive amnesty, make these free tax credits available to 5 million illegal immigrants. The massive fraud and error rates identified today in these programs suggest that illegal immigrants-now made eligible to receive these  benefits by Obama's order-will be able to obtain even larger taxpayer handouts due to enormous susceptibilities in the system."
 
Source: Jeff Sessions, December 9, 2014, For Immediate Release, Contact: Stephen Miller, 202.224.4124

 

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