The House of Representatives is slated to vote on a bill Monday night that would cut more than $70 billion in Internal Revenue Service funding in an effort to prevent the agency from conducting new audits on Americans — fulfilling newly elected House Speaker Kevin McCarthy’s promise ahead of taking the gavel.
The Family and Small Business Taxpayer Protection Act from Reps. Adrian Smith, R-Neb., and Michelle Steel, R-Calif., would roll back the billions of dollars of funding for the IRS that was approved in the Inflation Reduction Act last year.
Smith’s bill leaves in place funding for customer service and improvements to IT services at the IRS but rescinds several categories of unobligated funding, including money that could be used to conduct any new audits on Americans. In total, it would claw back $72 billion of the funding Congress approved for the IRS last year. Read more…
