(C) Common Dreams
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House Republicans vote to strip IRS funding, following pledge to repeal nearly $80 billion approved by Congress [1]

['Kate Dore', 'Cfp']

Date: 2023-01-10

New U.S. Speaker of the House Kevin McCarthy, R-Calif., speaks with reporters in Washington, Jan. 7, 2023.

House Republicans on Monday night voted to slash funding for the IRS, following a pledge from newly-elected Speaker Kevin McCarthy to repeal the money approved by Congress last year.

Passing along party lines, the bill would rescind tens of billions allocated to the agency over the next decade through the Inflation Reduction Act passed in August.

The measure doesn't have the support to pass in the Democratic-controlled Senate, and the White House opposed the bill in a statement released Monday.

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"It's not going to become law, but it makes a very strong political statement," said Mark Everson, a former IRS commissioner and current vice chairman at Alliantgroup, noting that the partisan IRS divide isn't good for the agency's "long-term stability."

The bill comes less than two weeks after Democratic members of the House Ways and Means Committee released six years of former President Donald Trump's tax returns, angering many Republican lawmakers.

Known as the Family and Small Business Taxpayer Protection Act, the new House Republican measure would increase the budget deficit by more than $114 billion through 2032, according to the Congressional Budget Office.

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[1] Url: https://www.cnbc.com/2023/01/10/house-republicans-have-voted-to-cut-irs-funding-.html

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