he GOP-led House of Representatives has voted to rescind billions of dollars in funding for the Internal Revenue Service (IRS) that was approved in the Democrats’ so-called “Inflation Reduction Act.”
Lawmakers voted to rescind more than $70 billion in funding to the IRS on Monday night, in the first significant move under Republican House Speaker Kevin McCarthy’s (R-CA) leadership.
The move fulfills McCarthy’s promise to prevent the agency from hiring tens of thousands of new agents and conducting new audits on Americans.
The bill is dubbed the “Family and Small Business Taxpayer Protection Act” and is sponsored by Rep. Adrian Smith (R-NE) and Rep. Michelle Steel (R-CA).
The bill passed the House of Representatives in a 221-210 vote.
The legislation will roll back the billions of dollars of funding for the IRS approved in the Inflation Reduction Act last year.
However, it leaves in place funding for customer service and improvements to IT services.
The bill rescinds any funding that could be used to conduct new audits on Americans and funding that would double the agency’s current size.
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