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a member of the informal Department of Government Efficiency under President Donald Trump, highlighted the presence of outdated contracts with external technology consultants.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
January 28, 2026 - 01:37
Students hack their way into the future of brain-computer interfacesThe future of brain-computer interfaces (BCIs) is being shaped by the next generation of innovators today. At a recent intensive hackathon, university students moved beyond theory to work directly...
January 27, 2026 - 03:01
New U.S. defense strategy ‘barely mentions technology’The Pentagon quietly released its annual National Defense Strategy (NDS) late Friday, a move that has sparked immediate analysis and concern. The unclassified, 34-page document was published online...
January 26, 2026 - 18:47
Tandem Technology to Raise $100 Million for Prescription AutomationAiming to revolutionize a critical yet often cumbersome part of healthcare, HealthTech startup Tandem Technology is embarking on a significant capital raise. The company is seeking to secure...
January 26, 2026 - 01:10
Believe Your EyesA growing number of individuals in Minneapolis are placing themselves in harm`s way to create a visual record of law enforcement activities. Armed with smartphones and cameras, these documenters...