Biden Threatens to Veto GOP Bill Cutting $72 Billion From IRS

The White House Monday’s veto of a bill passed by the Republican majority House would have allowed $72 billion to be reappropriated for the hiring of tens of thousands Internal Revenue Service (IRS), staff over the next ten years.

Last year, Congress approved $80 billion Inflation Reduction Act – New funding for IRS to hire staff President Joe Biden Signed into law last year. Republicans approved Monday a bill to return most of the money. The White House stated that this would allow corporations and wealthy Americans to cheat their taxes.

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If a House bill aimed at removing $72 billion of funding for the IRS was sent to him, President Biden would veto it.
(Reuters/Kevin Lamarque/File)

“Far from protecting middle-class families or small businesses, H.R. 23 protects wealthy tax cheats at the expense of honest, middle-class taxpayers,” The White House issued a statement. “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. That’s their agenda; not lowering costs or cutting taxes for hardworking Americans – as President Biden has consistently advocated.”

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Washington, D.C. – Federal building for Internal Revenue Service
(iStock)

The White House stated that IRS agents were needed to ensure that the wealthy pay their fair share, which reduces the federal deficit.

The IRS funding was intended to help new agents and auditors as well as support staff. The GOP bill passed this week provides funding to help customers and improve technology.

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Biden pledges to veto any bill that allows the wealthy to cheat their taxes.
(White House)

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Biden’s threat of a veto is unlikely to be used as the bill is unlikely to pass the Senate, where Democrats have a majority.

“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,” The White House issued a statement.