Republicans are now in charge of the House. They are going full steam ahead to fulfill one of their ultimate commitments: tax refunds.
“Our first bill will cancel funding for 87,000 new IRS agents.” Council President Kevin McCarthy said, Shortly after taking the hammer on Saturday morning to receive a standing ovation from his party. “Do you understand We believe the government should help you. not chasing after you.”
GOP lawmakers have accused the IRS of nearly $80 billion it will receive over the next decade as part of a Democrats’ Inflation Reduction Act Since the law was enacted last summer Republicans have argued that the agency intends to hire a new surrogate army to harass taxpayers. Although the IRS said will spend money to improve customer service support operations and meeting other needs as well. It has hired thousands of new employees to help taxpayers too. upcoming filing season.
One of the first House GOP moves could happen immediately on Monday. is to consider laws protecting family taxpayers and small businesses. More than $71 billion in additional IRS funding will be canceled.
The bill, which has no hope of passing the Democrat-controlled Senate, would increase the deficit by more than $114 billion over a decade. The Congressional Budget Office forecast on Monday.
Additional background: The House of Representatives vote will follow a promise McCarthy made in September that the top priority of the Republican majority is to reverse. “Dangerous Provisions” in the Inflation Reduction Act Right-leaning Americans for wealth said Monday. Urges lawmakers to support invoices.
Oregon Sen. Ron Wyden, chairman of the Senate Treasury Committee, broke House GOP legislation.
“The CBO has confirmed what was clear from the start – the Republican IRS bill. which is a handout for the wealthy who cheats on taxes It adds to the $114 billion deficit,” said Wyden, a Democrat.
The White House has already pledged to President Joe Biden will veto the bill if it reaches his desk. He called the bill “reckless”.
“Far from protecting middle-class families or small businesses, HR 23 protects the tax fraud of the wealthy at the expense of honest middle-class taxpayers,” the White House said in a statement on the bill.
It also noted that the Treasury has already directed that it will not use additional IRS funding to increase audit rates compared to historical levels for small businesses or households with incomes below $400,000.
Republicans succeeded in cutting IRS funding, cutting over $275 million from the agency’s budget in Fiscal Year 2023 Federal Spending Bill Enacted last month, the IRS provides $12.3 billion for the current fiscal year.
