House Votes to Rescind Billions in IRS Funding
The House of Representatives voted Monday night to cancel more than $70 billion of funding to the Internal Revenue Service. Kevin McCarthy, the newly elected House Speaker Promise to stop the agency’s hiring of tens or thousands of agents and conducting new audits of Americans.
The bill — dubbed the Family and Small Business Taxpayer Protection Act and sponsored by Rep. Adrian Smith, R-Neb., and Rep. Michelle Steel, R-Calif. — passed the House of Representatives, 221-210.
The legislation will reverse the billions of dollars in funding for the IRS approves Inflation Reduction Act, last year, provides funding for customer services and improvements in IT services.
The bill repeals any funding that could be used for new audits of Americans or funding that would increase the agency’s size.
DEFENSE SPENDING CUT PROPOSAL SPARKS INTERNATIONAL REPUBLICAN STTRIFE
On Monday night, the House of Representatives approved a rescinding of more than $70 Billion of funding for the Internal Revenue Service. This fulfilled Kevin McCarthy’s promise that the agency would not hire tens of thousand of agents or conduct new audits of Americans.
(Kent Nishimura via Los Angeles Times via Getty Images).
Over a period of 10 years, the Inflation Reduction Act gave the IRS a $80 billion boost. More than half of the funds were approved to help the IRS crack down on tax evasion. The funds would have gone towards filling 87,000 IRS posts.
“The last thing the American people need right now are more audits from an out-of-control, bloated IRS,” Smith spoke with Fox News Digital Monday before the vote. “The Inflation Act funding for IRS would lead to the hiring of 87,000 new IRS employees tasked with raising enough revenue to pay for Democrats’ Green New Deal priorities.”
Smith described it as “The Greatest of All Time.” “unacceptable.”
The bill — dubbed the Family and Small Business Taxpayer Protection Act — was sponsored by Rep. Adrian Smith, R-Neb., and Rep. Michelle Steel, R-Calif.
(Paul Bersebach/MediaNews Group/Orange County Register via Getty Images
“Our bill leaves in place funding for customer service and IT improvements because IRS is in desperate need of reform, but it protects middle-class families from audits they cannot afford,” Smith stated.
Monday’s score from the Congressional Budget Office was published by the agency. The bill would net increase the debt by $114Billion over a decade. Democrats brought this up in debate prior to the vote.
“Congressional Democrats and the Biden administration have made clear that up to 90% of their new audits will target middle-class families and small businesses. This score again demonstrates the extent to which they are plundering working-class Americans in order to hand billions of dollars out to profitable businesses to buy electric trucks for their fleets, fuel for their airplanes and install large scale wind and solar across America’s landscapes,” Smith’s office spokesperson said that the CBO score was being discussed.
The vote came just days after McCarthy, R-Calif., secured the House speakership — after an intense 15-round vote battle.
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Washington, DC is the home of the Internal Revenue Service.
(AP Photo/J. David Ake/File
In an exclusive interview, McCarthy told Fox News Digital that if elected speaker of the House, protecting Americans against the IRS would be his first order.
“On the very first day, we’ll repeal the 87,000 new IRS agents because we think the government should be there to help you, not to go after you,” McCarthy spoke.
This report was co-authored by Pete Kasperowicz and Kelly Laco from Fox News.
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