[inaudible conversations] [inaudible] [inaudible conversations] [inaudible conversations] [inaudible conversations] the finance committee will come to order. This morning the finance committee is going commissioner Charles Rettig and their annual hearing the typically ends the taxis in however 2021 is no typical year. Theres lots to talk about it and im going to start with the tax gap the difference between taxes owed and what is collected. Even the most conservative estimates the annual tax gap put it in the hundreds of billions of dollars a year. My own view is the annual tax gap is at least double the official estimate. The most recent official estimate said the tax gap is 381 billion a year but if we look back to data from 2011 through 2013, that means the estimates are out of date as soon as released. The fact is our economy is expanding. In 2111 bitcoin didnt buy you a ham sandwich. Todays crypto currencies and other tech colleges. Huge opportunities for the tax cheats to rip off
People. Anyone who is fully vaccinated can participate in indoor and outdoor activities, large or small, without wearing a mask or physical distancing. If you are fully vaccinated, you can start doing the things that you had stopped doing because of the pandemic. We have all longed for this moment when we can get back to some sense of normalcy. Based on the continuing downward trajectory of cases, the scientific performance of our vaccines, and understanding how the virus spreads, that moment has come for those who are fully vaccinated. That moment has come for those who are fully vaccinated. Thats the cdc director Rochelle Walensky announcing this afternoon that if youre vaccinated you can stop Wearing Masks, indoors and out, except in very specific situations. In healthCare Facilities, in Congress Regat Care Facilities like Nursing Homes or shelters, jails or prisons, or interestingly on transportation. Busses, planes, airports, but depots. These are the exceptions. Other than those
You can start doing the things that you have stopped doing because of the pandemic. We have all longed for this moment, where we can get back to some sense of normalcy. Based on the continuing downward trajectory of cases, the Scientific Data on the performance of our vaccines, and our understanding of how the virus spreads, that moment has come for those who are fully vaccinated. That moment has come, for those who are fully vaccinated. Thats the cdc michelle wilenski. She said he could stop Wearing Masks indoor and oh except in very specific situations. In health Care Facilities, and Care Facilities like nursing homes, homeless shelters, and Congregant Living facilities like jails or prisons. Or, interestingly, on transportation. Buses, planes, airports, bus depots. Those are the exceptions. Other than those things, if you are vaccinated, its okay to take off your mask now. Indoors and out. Really . Are you sure . How sure are you . This is a big change. The previous cdc guidance on
Based on the continuing downward trajectory of cases, the scientific performance of our vaccines, and understanding how the virus spreads, that moment has come for those who are fully vaccinated. That moment has come for those who are fully vaccinated. Thats the cdc director Rochelle Walensky announcing this afternoon that if youre vaccinated you can stop Wearing Masks, indoors and out, except in very specific situations. In healthCare Facilities, in Congress Regat Care Facilities like Nursing Homes or shelters, jails or prisons, or interestingly on transportation. Busses, planes, airports, but depots. These are the exceptions. Other than those things, if youre vaccinated its okay to take off your masks now, indoors and out. Really . Are you sure . How sure are you . This is a big change. The previous cdc guidance on where and whether americans could take off their masks was confusing and hard to explain. The chart they put out initially wasnt any help to me at all, but the new guidanc
[silence] finance committee will come to order. This this morning finance committee is joined by irs commissioner redding for our annual hearing that typically marks the end of tax Filing Season. Ing however, 2021 is no typical year. Theres lots to talk about. And im going to start with the tax gap. The difference between taxes owed and what is collected. Even most conservative estimate for the annual tax gap put it in the hundreds of billions of dollars a year. My own view is the annual tax gap is at least double the official estimate in growing. Most recent official estimate pegs the tax gap at 3 81 billion a year but it looks all the way back to data from 2011 through 2013. That means these estimates are out of date as soon as released. The fact is our economy has changed it in expanded it in 2011, one bitcoin didnt buy you a ham sandwich. Todays cryptocurrency and other technologies create huge new opportunities for the tax cheats to rip off the American People. More and more wealt