Good start! First bill under Speaker McCarthy w
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Posted On: 01/09/2023 11:42:18 PM
Good start!
First bill under Speaker McCarthy will cost taxpayers more than $100 billion
Kevin McCarthy promised on his first day as Speaker of the House that Members would “read every single word of the Constitution aloud from the floor of the House.” He also promised to “fight for a strong, fiscally responsible, and free America.”
-snip-
Instead, during his acceptance speech when he was elected Speaker on the fifteenth try, McCarthy promised, “Our very first bill will repeal the funding for 87,000 new IRS agents.”
There is no funding for 87,000 IRS agents, as The New York Times and others have fact-checked. There is funding to replace retiring IRS agents, upgrade the agency’s technology, and cut wait times in half by hiring more agents to answer consumer phone calls.
-snip-
The Wall Street Journal’s Richard Rubin, who covers tax policy, writes that the Congressional Budget Office has scored McCarthy’s bill and says it will increase the deficit by $114 billion.
https://www.msn.com/en-us/money/taxes/first-b...r-AA169kfD
White House Issues First Veto Threat Of New Congress Against Republican IRS Bill
The White House made its first veto threat of the new Congress Monday, targeting a House Republican bill that would rescind funding allotted to the IRS in the Inflation Reduction Act, which President Joe Biden signed into law last summer.
“This reckless bill would increase the deficit by nearly $115 billion over 10 years per an estimate by the Congressional Budget Office by enabling wealthy tax cheats to engage in additional tax fraud and avoidance,” the administration said in a statement, citing the score released Monday.
“If the President were presented with H.R. 23 — or any other bill that enables the wealthiest Americans and largest corporations to cheat on their taxes, while honest and hard-working Americans are left to pay the tab — he would veto it,” it added.
Such a bill, should it pass the House, would almost certainly never survive the Democratic-controlled Senate to reach Biden’s desk.
https://www.msn.com/en-us/news/politics/white...r-AA169riL
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First bill under Speaker McCarthy will cost taxpayers more than $100 billion
Kevin McCarthy promised on his first day as Speaker of the House that Members would “read every single word of the Constitution aloud from the floor of the House.” He also promised to “fight for a strong, fiscally responsible, and free America.”
-snip-
Instead, during his acceptance speech when he was elected Speaker on the fifteenth try, McCarthy promised, “Our very first bill will repeal the funding for 87,000 new IRS agents.”
There is no funding for 87,000 IRS agents, as The New York Times and others have fact-checked. There is funding to replace retiring IRS agents, upgrade the agency’s technology, and cut wait times in half by hiring more agents to answer consumer phone calls.
-snip-
The Wall Street Journal’s Richard Rubin, who covers tax policy, writes that the Congressional Budget Office has scored McCarthy’s bill and says it will increase the deficit by $114 billion.
https://www.msn.com/en-us/money/taxes/first-b...r-AA169kfD
White House Issues First Veto Threat Of New Congress Against Republican IRS Bill
The White House made its first veto threat of the new Congress Monday, targeting a House Republican bill that would rescind funding allotted to the IRS in the Inflation Reduction Act, which President Joe Biden signed into law last summer.
“This reckless bill would increase the deficit by nearly $115 billion over 10 years per an estimate by the Congressional Budget Office by enabling wealthy tax cheats to engage in additional tax fraud and avoidance,” the administration said in a statement, citing the score released Monday.
“If the President were presented with H.R. 23 — or any other bill that enables the wealthiest Americans and largest corporations to cheat on their taxes, while honest and hard-working Americans are left to pay the tab — he would veto it,” it added.
Such a bill, should it pass the House, would almost certainly never survive the Democratic-controlled Senate to reach Biden’s desk.
https://www.msn.com/en-us/news/politics/white...r-AA169riL
46
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