Republicans Applaud 2 Percent Cut to IRS Funding
For years, the agency has struggled under insufficient funding
Republican lawmakers are celebrating a $275 million reduction in the Internal Revenue Service’s (IRS) annual appropriations in the omnibus spending package that Congress will consider this week.
The omnibus package includes all 12 annual appropriations bills Congress must pass and would fund the government through the remainder of fiscal 2023, which runs through September of next year.
The 2 percent reduction in IRS appropriations is relatively small considering the agency received $80 billion in additional funding through the Inflation Reduction Act signed into law this summer. House Republican leader Kevin McCarthy (R-CA), who is vying to become speaker in the Republican-controlled House next year, has said the first bill Republicans would advance in the House next year would repeal funding for hiring more IRS employees. More employees have been sought to help address all of the tax fraud that occurs each year under corporate and wealth-related loopholes.
This article was provided to OSAP by ASAE's Power of Associations and Inroads.