White House issues veto threat for Republican financial services appropriations bill

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White House issues veto threat for Republican financial services appropriations bill
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Zachary Halaschak is an economics reporter at the Washington Examiner. Before moving to Washington, he worked in Alaska, covering politics, government, and crime for the Ketchikan Daily News. While there, Zach won the Alaska Press Club’s second-place award for best reporting on crime or courts for his coverage of a local surgeon’s alleged murder.

The White House said on Monday that President Joe Biden would veto a Republican bill to fund financial agencies and general government activities if it were to come to his desk.

“House Republicans had an opportunity to engage in a productive, bipartisan appropriations process, but instead are wasting time with partisan bills that cut domestic spending to levels well below the FRA agreement and endanger critical services for the American people,” the administration said on Monday.

The Republican appropriations bill would slash IRS discretionary funding by just over $1 billion. Republicans and the Biden administration have been warring over IRS funding, with the GOP accusing Democrats of wanting to turbocharge the agency and Democrats arguing that the overworked IRS needs funds in order to collect revenue more efficiently.

The Republican bill cuts spending for the General Services Administration’s electric vehicles fund. The Biden administration has made transitioning to EVs away from gasoline-powered vehicles a priority and is requesting the full $50 million proposed in the 2024 budget be included. The funds would go toward gradually electrifying the federal government's fleet of vehicles. The administration has the goal of transitioning its light-duty fleet of vehicles to 100% zero-emission vehicles by 2027.

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