 | |
| Long title | To rescind certain balances made available to the Internal Revenue Service. |
|---|---|
| Announced in | the 118th United States Congress |
| Number of co-sponsors | 82 |
| Codification | |
| Acts affected | Inflation Reduction Act of 2022 |
| Legislative history | |
| |
The Family and Small Business Taxpayer Protection Act is a proposed United States law that would rescind the expansion of the Internal Revenue Service included in the Inflation Reduction Act of 2022.[1] It was the first bill to be introduced in the 118th Congress.
Proponents of the bill, Congressional Republicans, claim that the bill is necessary to protect middle-class Americans from increased audits and scrutiny from the IRS and hold the institution accountable.[1] Opponents of the bill, Congressional Democrats and President Joe Biden, claim that the bill would allow higher-income Americans to avoid paying taxes and would increase the national debt.[2]
The Fiscal Responsibility Act of 2023 includes a provision that is based on this proposed act, rescinding $1.4 billion of the IRS expansion introduced by the Inflation Reduction Act.
It was previously introduced in the 117th congress.[3]
References
- ^ a b "The Family and Small Business Taxpayer Protection Act". House Ways and Means. 9 January 2023. Retrieved 11 January 2023.
- ^ Samuels, Brett (9 January 2023). "White House opposes 'reckless' GOP bill to rescind IRS funding". The Hill. Retrieved 11 January 2023.
- ^ https://www.congress.gov/bill/117th-congress/house-bill/9092
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This page was last edited on 17 February 2024, at 02:01