Biden Vows To Veto GOP Bill Rescinding IRS Funding

Monday, the White House attacked Republican legislation in the House that would rescind the Democrats’ expanded funding for the Internal Revenue Service.

“With their first economic legislation of the new Congress, House Republicans are making clear that their top economic priority is to allow the rich and multi-billion dollar corporations to skip out on their taxes while making life harder for ordinary, middle-class families that pay the taxes they owe,” the Office of Management and Budget said in a statement.

The statement continued, claiming that the Republicans’ agenda is not focused on cutting costs.

“That’s their agenda; not lowering costs or cutting taxes for hard-working Americans – as President Biden has consistently advocated.”

If the bill makes it to the President’s desk, Joe Biden won’t sign it, according to the Washington Times.

In the run-up to the 2022 midterm elections, Republicans promised Americans to divest $72 billion in funding for 87,000 new IRS agents passed in the Democrats’ so-called “Inflation Reduction Act.”

Monday, House Republicans voted to repeal the Democrats’ new agents.

Newly-elected House Speaker Kevin McCarthy (R-CA) tweeted out the news, writing, “This was our very first act of the new Congress because the government should work for you.”

“House Republicans just voted unanimously to repeal the Democrats’ army of 87,000 IRS agents,” McCarthy wrote. “Promises made. Promises kept.”

Although McCarthy has celebrated the bill’s passing in the GOP-controlled House, the legislation is not likely to pass through the Senate, according to the New York Post.

Rep. Nancy Pelosi (D-CA) slammed the bill, suggesting that diverting funds from the IRS would assist the “ultra-wealthy.”

“It is shameful, but not surprising, that House Republicans’ first order of business in this Congress is to protect corporate America and ultra-wealthy individuals who are illegally avoiding taxes,” Pelosi said in a statement after the vote.

“Last summer, Democrats proudly enacted the Inflation Reduction Act: a strong step toward tax fairness that improved taxpayer services for families and bolstered resources to ensure the wealthiest few and greediest corporations will pay what they owe. Now, Republicans want to rip away these resources, which will drive up the deficit and let wealthy tax cheats off the hook,” she added.

Vice President Kamala Harris also chided Republicans, saying, “House Republicans are rushing to undo that progress and allow too many millionaires, billionaires, and corporations to cheat the system.”