The Family and Small Business Taxpayer Protection Act
In the first GOP House bill, it targets the massive amounts of money allocated to the IRS in the deceptively named Inflation Reduction Act. The new GOP-dominated House voted to rescind more than $70 billion in funding for the Internal Revenue Service. The bill also threatens to kill the Biden administration’s plans to dramatically expand the tax-collection bureaucracy.
Reporting from National Review:
The Inflation Reduction Act funneled $80 billion to the IRS over ten years with only about 4 percent of the money going to taxpayer “assistance” and the bulk going to pay for tax investigations and new positions, the GOP alleged.
Republicans preserved provisions of the Democrat-backed legislation that supported modernization efforts at the IRS, such as customer service and IT improvements.
House Speaker Kevin McCarthy (Calif.), who had just clinched the speakership after a multi-day marathon of ballots and negotiations with GOP detractors, told the chamber Saturday.
“Our first bill will repeal funding for 87,000 new IRS agents, because the government should be here to help you, not go after you,”
As the WSJ editorial board notes, the bill won’t get through the Democratic Senate, but it’s an important statement that the GOP is on the side of taxpayers.
The Congressional Budget Office said last year that super-sizing the IRS would mean countless new audits across the income spectrum, including those making less than $400,000 a year. There aren’t enough rich people to squeeze with audits, and they hire lawyers and accountants. … Bills of this sort forecast an agenda for 2025 if Republicans win Congress and the White House in 2024.
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