The nonpartisan Congressional Budget Office released a review of the House Republicans' plan to provide $14.3 billion in aid to Israel by cutting Internal Revenue Service funding by that amount, saying it will raise the U.S. budget deficit in 2024 by $12 billion. The data...
The nonpartisan Congressional Budget Office released a review of the House Republicans' plan to provide $14.3 billion in aid to Israel by cutting Internal Revenue Service funding by that amount, saying it will raise the U.S. budget deficit in 2024 by $12 billion.
A $26 billion decrease in IRS tax revenue would effectively raise the U.S. projected budget deficit by $12 billion, according to the CBO report. Senators from both parties voiced doubts Tuesday about House Republicans' plan to provide $14.3 billion in aid to Israel by cutting Internal Revenue Service funding, without providing aid to Ukraine, and Democratic President Joe Biden threatened to veto the bill were it to pass.
Republicans have a 221-212 majority in the House, but Biden's fellow Democrats control the Senate 51-49. To become law, the bill would have to pass both the House and Senate and be signed by President Biden. Secretary of State Antony Blinken met with Johnson on Tuesday after testifying in the Senate. At the hearing, Blinken and Secretary of Defense Lloyd Austin said Ukraine needed continued U.S. assistance to win its fight against Russian invaders.
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