House Republicans, who now control the chamber, reportedly voted on Monday evening to remove billions of dollars from the Internal Revenue Service after the agency earned a major financial boost under the Democrats’ Inflation Reduction Act.
House Speaker Kevin McCarthy (R-CA), who was chosen after 15 rounds of voting, praised the bill’s passing by a vote of 221-210.
McCarthy had stated during his initial address as House Speaker that the first item Republicans would vote on would be to reduce the IRS budget.
The boost in budget was anticipated to be north of $80 billion over ten years to assist the agency in collecting more taxes from American citizens, among other things.
The bill is unlikely to pass in the Senate, as the chamber is now firmly controlled by Democrats.
McCarthy’s “Commitment To America” proposal featured a focus on lowering IRS spending.
Speaker Kevin McCarthy (R-Calif.) declared in September, when House Republicans issued their “Commitment to America” midterm policy and messaging plan ahead of the election, that the first bill for a GOP-controlled House would be to repeal the increased IRS money.
A $80 billion increase in IRS spending over a decade, largely geared at increasing high-income enforcement, was included in last year’s Inflation Reduction Act, Democrats’ massive tax, health, and climate legislation.
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