- Sep 4, 2005
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Biden administration issues first veto threat to House legislation
Republicans passed a House rules package Monday in a vote that was seen as an early test of Speaker Kevin McCarthy's ability to lead following last week's prolonged battle to win the gavel. Follow for the latest live news updates.
In a sign of what could be to come for the new Congress, the Biden administration says it strongly opposes the first new economic legislation proposed by House Republicans — which would roll back funding for the Internal Revenue Service provided in the Inflation Reduction Act — and vowed that if it passes, President Joe Biden will veto it.
OMB called the bill “reckless,” alleged it would increase the deficit, and wrote it would enable “wealthy tax cheats to engage in additional tax fraud and avoidance.”
“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 statement said. “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.
Mixed feelings about this one. While on one hand, the accusation is true that this is aimed at making the IRS less effective in tracking down the "wealthy tax cheats" (many of whom are political donors)...on the other hand, I've had serious doubts (based on other proposed provisions) about whether or not the original provision to increase the number of IRS funding/agents was purely tailored to go after wealthy people, or if that's just how it was sold to the American people.