Reducing funds for the tax agency is a top priority of House Republicans, setting up a budget clash with the Senate and White House.
Seeking to pay for $14 billion in proposed aid to Israel sought by both parties, Speaker Mike Johnson on Monday unveiled legislation that would cut roughly $14 billion from funds recently approved by Democrats to expand the IRS. But, said the cuts would make the bill more expensive, by reducing audits of the wealthy and large corporations and hampering the agency’s ability to collect revenue that funds the government.
“All of those funds go to increased scrutiny on tax evasion going on at the highest wealth, and that is millionaires and billionaires and large corporations and large complex corporations,” Werfel said. “When you reduce those audits, you reduce the amount of money that we can collect and return to the Treasury for other priorities.
“I see this less about the leveraging the IRS and more about paying for something we all can agree on,” Rose said. “As I understand it, it was designed to unify Republican support for the bill. As a stand-alone, you think they’d go for something easier because this is just not going to fly in the Senate,” said Doug Holtz-Eakin, who served as the director of the CBO and is now the president of the American Action Forum, a conservative group. “This is a new speaker trying to get the bill off his floor — and then they’ll figure it out in negotiations with the Senate.
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