House Republicans went after the IRS when they decided that emergency aid for Israel should be coupled with cuts elsewhere in the budget.
Speaker of the House Mike Johnson, R-La., talks with reporters ahead of the debate and vote on supplemental aid to Israel, at the Capitol in Washington, Thursday, Nov. 2, 2023. – House Republicans went after the IRS — long a GOP whipping child — when they decided that emergency aid for Israel should be coupled with cuts elsewhere in the budget.
That's because it would take away money that the agency dedicated to auditing the wealthy, which brings in far more than it costs. “When you reduce those audits, you reduce the amount of money that we can collect and return to the Treasury for other priorities.” In June, legislation to raise the statutory debt limit also rescinded $1.4 billion given to the federal tax collector through the IRA. The debt deal also included a separate agreement to take $20 billion from the IRS over the next two years and divert that money to other nondefense programs, the White House said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
House GOP passes Israel aid bill offset by IRS funding cutsThe House of Representatives passed a $14.3 billion funding package for Israel on Thursday.
Read more »
House GOP targets IRS in bill to provide emergency aid to IsraelHouse Republicans went after the IRS when they decided that emergency aid for Israel should be coupled with cuts elsewhere in the budget. The aid bill that passed the House on Thursday is unlikely to be approved by the Democratic-controlled Senate.
Read more »
White House says Biden would veto House GOP’s standalone Israel funding billUkraine and Israel could not prevail if US support stops: Defense Secretary
Read more »
GOP plan to fund Israel aid with IRS cuts would cost $90 billion, tax chief saysReducing funds for the tax agency is a top priority of House Republicans, setting up a budget clash with the Senate and White House.
Read more »
FACT CHECK: IRS Funding Cut Doesn’t Offset Israel Aid in GOP BillHouse Speaker Mike Johnson cited concern about “fiscal stability” in saying that a Republican bill to provide aid for Israel would have “pay-...
Read more »
House passes $14 billion in Israel aid with costly cuts to IRSSenate Democratic leaders say the upper chamber won’t consider the measure because of the IRS cuts.
Read more »