Trump Administration's Executive Claims $1.5 Billion Saved in IRS Tech Budget
March 21, 2025 - 12:16
A tech startup executive appointed by the Trump administration to assess the Internal Revenue Service's technology modernization program announced significant budget cuts on Thursday. Sam Corcos, the founder and CEO of health technology firm Levels, revealed that he has successfully canceled contracts totaling approximately $1.5 billion from the IRS's technology budget.
Corcos, who is also a member of the informal Department of Government Efficiency under President Donald Trump, highlighted the presence of outdated contracts with external technology consultants. He indicated that these contracts, some of which amount to tens of billions of dollars, were part of a modernization initiative that has been stalled for decades.
This move aims to streamline the IRS's operations and eliminate unnecessary spending, reflecting a broader effort to improve government efficiency. The cancellation of these contracts is seen as a step towards modernizing the agency's technology infrastructure, which has long been criticized for lagging behind current standards.
MORE NEWS
April 15, 2026 - 20:06
Lumen Technology's high-stakes fiber bet nearly bankrupted it. Now, it's powering its AI futureA bold and nearly catastrophic bet on fiber-optic infrastructure is positioning Lumen Technologies for a remarkable turnaround in the age of artificial intelligence. The company, once trading as a...
April 15, 2026 - 09:49
Riding the wave of change – My journey in technologyThe intersection of human ambition and technological innovation is creating waves of change across every industry. For one engineer and athlete, this convergence is not just professional but...
April 14, 2026 - 18:56
2026 End of Session Wrap-Up: Information TechnologyMaryland counties achieved significant progress on critical information technology and cybersecurity fronts during the recently concluded 2026 General Assembly session. With local governments...
April 14, 2026 - 05:59
Intel is the hottest technology stock right now, has added more than $100 billion to market value in less than 10 daysThe technology sector is witnessing a staggering rally from a storied chipmaker, as Intel Corporation`s stock continues its unprecedented surge. In a breathtaking run of less than ten days, the...