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GOP Wins, Defunds Who?

by Market FinancePosted onDecember 20, 2022December 20, 2022

Here’s what happened…

The Republicans in Congress have finally succeeded at cutting funding to President Biden’s Internal Revenue Service (IRS) during their negotiations with the Democrats about the $1.7 trillion omnibus budget. 

According to Fox, Senate Republicans managed to force the Democrats into cutting a whopping $275 million of funding to the IRS over the next year. The Republicans argued successfully that the IRS is already going to receive more money over the next decade thanks to President Biden’s $739 billion Inflation Reduction Act. 

Senate Republican Richard Shelby explained, “This process was far from perfect, but ultimately it allowed Republican redlines to be adhered to and because of that I will urge my colleagues to support this package.”

After reaching a negotiation, Republican Rep. Vern Buchanan added, “Democrats have invested $80 billion into the agency to hire 87,000 new IRS agents. Everyone is worried about what these IRS agents will do, and we’re committed to holding the agency accountable.”

Republican Rep. Jason Smith celebrated the decision and said that Americans want oversight over the IRS. Smith also suggested that the IRS was targeting conservatives and has even let taxpayer information to be leaked for political gains.

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Published by Market Finance

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