“ : The House GOP majority voted to remove funding for the IRS designed to clear the backlog of unprocessed returns, improve customer service, overhaul technology and hire more employees . To reduce the deficit? No, the Congressional Budget Office estimates the Republicans’ bill would add $114 billion to the deficit.
Despite Treasury Secretary Janet Yellen’s assurances that any additional resources would not be used to increase enforcement on households and businesses below a $400,000 threshold, new House Speaker Kevin McCarthy and company passed this bill in the guise of protecting the middle class from a “weaponized” IRS. Most of us in the middle class bring in considerably less than $400,000 and expect all Americans and corporations to pay taxes they are obligated to under law.
This bill will die eventually, a reminder that GOP overreach will be checked by the Senate and President Biden.