A nonpartisan Congressional Budget Office report found the bill would add $26 billion to the deficit.
Johnson’s first significant move since his meteoric rise to power was to push forward with a bill to pay for a $14.3 billion aid package for Israel by cutting the same amount from the IRS. The bill, which passed the House largely along party lines on Thursday, faces a steep uphill battle in the Senate, given that Majority Leader Chuck Schumer promises to avoid bringing it up for a vote.
That’s because the cuts target funding to the agency provided by Biden’s signature Inflation Reduction Act that focuses on making it easier for people to pay their taxes and for the agency to crack down on wealthy tax cheats. “All of those funds go to increased scrutiny on tax evasion going on at the highest wealth — that is millionaires, billionaires, large corporations and large complex partnerships,” IRS Commissioner Danny Werfel said last week.
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