House GOP Passes Repeal Of IRS Funding Boost As Its First Bill In The Majority

By The Hill
Posted on 01/09/23 | News Source: The Hill

House Republicans fulfilled a key campaign promise on Monday, passing legislation to rescind the bulk of an IRS funding boost signed into law last year, marking the first bill passed by the GOP-controlled House this Congress.

The bill, which is unlikely to see action in the Democratic-controlled Senate, passed in a party-line 221-210 vote on Monday evening.

Speaker Kevin McCarthy (R-Calif.) announced that the first bill for a GOP-controlled House would be to repeal the new IRS funding in September, when House Republicans released their “Commitment to America” midterm policy and messaging platform ahead of the election.

A boost of about $80 billion in IRS funding over a decade generally aimed at upping high-income enforcement was included in last year’s Inflation Reduction Act, Democrats’ sweeping tax, health and climate bill. 

The Republican bill, formally titled the “Family and Small Business Taxpayer Protection Act,” is barely longer than one page. It directs any “unobligated balances of amounts appropriated or otherwise made available” to the IRS from the Inflation Reduction Act to be rescinded.