Posted 11/1/2023, 11:00:00 AM
GOP House Bill Cuts IRS Funding to Pay for Israel Aid, Raising Deficit Concerns
- GOP House bill would cut $14B from IRS to fund Israel aid, raising deficit by $30B+ per experts
- Cuts would hamper IRS efforts to close "tax gap" of hundreds of billions owed but not collected
- White House promised to veto bill, favors joint Ukraine/Israel aid package
- Some Senate Republicans acknowledge potential budget impact but still back House bill
- Experts say dynamic scoring unlikely to show significant GDP impact from relatively small IRS cuts
