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a member of the informal Department of Government Efficiency under President Donald Trump, highlighted the presence of outdated contracts with external technology consultants.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
February 23, 2026 - 05:11
A New Strategy Needed in the Fight Against Digital FraudThe current crackdown on online financial scams may be focusing on the wrong targets. While major tech platforms face increasing pressure to police their ecosystems, experts are questioning if this...
February 22, 2026 - 04:45
Emerging embryo-selection technologies are currently 'little more than snake oil.' But someday, they could widen social inequities.The burgeoning field of embryo-selection technology, often marketed with grand promises, is currently under intense scrutiny. Experts analyzing the landscape describe many present offerings as...
February 21, 2026 - 06:26
Silicon Valley breathes sigh of relief after tariff rulingThe technology sector is expressing widespread relief following a Supreme Court ruling that declined to revive a controversial tariff case. The decision effectively maintains the current status quo...
February 20, 2026 - 23:06
Phoenix and Quantum Technology: Arizona’s Industrial Bet on the Quantum EconomyA concerted push to establish Arizona as a central player in the quantum technology landscape is underway. A recent gathering in Phoenix brought together state officials, private investors,...