But when it comes to the truly sacred chambers of Commerce, well…
Like a wind-up doll. This guy is just gonna give us the same cliches we've been hearing for 40 years. https://t.co/MaWlaaJvVu
— Clean Observer (@Hammbear2024) November 1, 2023
Mike Johnson is sending a clear message with his first proposed legislation, and that message is “our top priority is helping rich tax cheats” https://t.co/17zxt12JU6
— Scott Lemieux (@LemieuxLGM) October 31, 2023
Per the Washington Post:
House Republicans on Monday unveiled a proposal to pay for emergency aid for Israel’s war against Hamas by cutting IRS funds aimed at cracking down on rich tax cheats and improving taxpayer service.
The legislation, released by the House Rules Committee, calls for approving roughly $14 billion primarily in military aid to Israel and cutting about the same amount from the IRS budget. President Biden has proposed giving Israel roughly the same amount in aid but did not call for offsetting cuts to other parts of the budget. The new House speaker, Rep. Mike Johnson (R-La.), has said the new expenditure must be covered by other spending reductions to avoid adding to the debt. Biden also called for the Israel aid to be packaged with roughly $60 billion for Ukraine, an approach the GOP bill rejected.
The legislation reflects the GOP’s ongoing determination to undo the IRS expansion that Biden secured in 2022 in the Inflation Reduction Act, which boosted the agency’s funding by $80 billion to improve taxpayer services and pay for more enforcement actions against wealthy tax cheats. Biden and House Republicans agreed to repeal roughly $20 billion of that $80 billion as part of a deal in May to suspend the U.S. debt ceiling. Now, Republicans are pushing for more reductions.
The GOP bill would pare back funds for most parts of the IRS expansion, including increased enforcement and a new online portal to allow taxpayers to file their taxes for free directly with the government. The legislation excludes cuts to improved taxpayer services that have helped the IRS reduce wait times for calls.
Using the IRS funding to offset the Israel aid might not actually save money: The nonpartisan Congressional Budget Office had estimated in 2022 that the $80 billion IRS expansion would cut the deficit by more than $100 billion by improving collections and enforcement.
“This is the reverse of the right way to think about this,” said Mark Mazur, the Biden administration’s former assistant treasury secretary for tax policy. “This is like if you take a dollar from the IRS and throw a $5 bill out the window.”…
… Where it magically flies into the soft, sweaty hands of someone who can afford to buy legislators, and not just tax accountants.
This adds up to a legislator who is hiding his assets.
That never ends well. https://t.co/PbcVyfIfYA— Mike Galletly ???? (@galletly_mike) November 1, 2023