Congressman suggests funding TMF using IRS modernization savings

“And now for an entirely different idea to modernize federal technology. What if Congress gave the IRS $2 billion to move off legacy systems and the savings from the tax agency would go back into the governmentwide Technology Modernization Fund?”

“That is the idea from Rep. Steny Hoyer (D-Md.), the House majority leader.”

“Hoyer sent a letter to Steven Mnuchin, the secretary of Treasury, on July 31 proposing to merge the TMF with the line item for IRS modernization funding.”

“’Since the funds will be administered through the TMF, the long-term cost savings resulting from the IRS upgrades would be reinvested through the TMF’s competitive revolving fund model into other urgently needed federal technology upgrades, including the Treasury Department, the Small Business Administration, and other agencies,’ Hoyer wrote. ‘That TMF model has already proven effective through three years of success.’”

“Hoyer said House Democrats included $1 billion in the HEROES Act, which it passed on May 15, for TMF, and the Trump Administration and Senate Republicans included $2 billion for technology upgrades specifically for the IRS in the legislative package proposed on July 27…” Read the full article here.

Source: Rep. Hoyer offers novel approach to fund IT modernization efforts – By Jason Miller, August 3, 2020. Federal News Network.

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