Politics & Finances

House Votes to Rescind $80 Billion IRS Funding

House Votes to Rescind $80 Billion IRS Funding

House Republicans have voted to rescind $80 billion in IRS funding that was included in President Biden's Inflation Reduction Act last year.

Credit: Hisham Ibrahim/Getty Images

In August, a Financial Times report noted that numerous Capitol Hill Republicans had attacked the measure.  Longtime Senator Chuck Grassley (R-IA) asked, “Are they going to have a strike force that goes in with AK-15s already loaded ready to shoot some small business person in Iowa?”

Grassley also said he believes the funding will be used to go after "middle class and small business people," something Senate Majority Leader Chuck Schumer (D-NY) and the President Biden administration have assured the American people will not happen.

Senator Ted Cruz also weighed in, posting a controversial Tweet that simply says, "Abolish the IRS."

Now that the GOP has regained control of the House of Representatives, The New York Times confirms that they have voted to rescind the funding.

The news outlet noted, however, that the measure will not pass the Senate, "let alone receive approval from Mr. Biden. It passed the House, 221 to 210 along party lines, with every Democrat in opposition and Republicans applauding upon passage."

Credit: Kelly Nigro/Getty Images

It is worth pointing out that the increased funding received support from multiple former IRS heads. 

Over the summer, Fred Goldberg, who headed the agency under former President George H. W. Bush, joined President Bill Clinton's IRS head, Charles Rossotti, and John Koskinen, who led the IRS under the President Barack Obama administration in signing a statement supporting the new proposed legislation. 

What do you think about the IRS's funding boon?

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