House Republicans to Vote on Abolishing IRS With New BIll

Republicans in the House of Representatives are set to vote on a bill that would abolish the billion-dollar Internal Revenue Service (IRS), replacing the national income tax with a national consumption tax.

House Republicans voted on Monday to strip the IRS of most of the extra funding (about $71 billion) allocated to it through the Inflation Reduction Act during the Biden and Republican-controlled Administration. The bill passed along party lines, with a 221-210 vote. But stripping the IRS of much of their newly acquired funds seemed the first step in their opposition to the IRS auditing.

In the first act of their tenure, the Republicans are to vote on a bill that, if passed, would cancel the IRS.

Media personality @CollinRugg posed a question a Twitter pertaining the new development.

@brionnedavis suggests a bigger conspiracy at play.

In tune with @brionnedavis' tweet, the Office of Management and Budget wrote this in a statement of administration policy: “Far from protecting middle-class families or small businesses, H.R. 23 protects wealthy tax cheats at the expense of honest, middle-class taxpayers.”

“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,” the statement continued.

“That’s their agenda; not lowering costs or cutting taxes for hard working Americans.”

@CraigChamberlin also posed an “honest question” on the thread: “If government doesn't have to balance their checkbook and reconcile spending with taxed income – then why are Americans paying taxes?”

 @MartinTruther doubts the bill will make it past the Democratic majority in the Senate.

On the perceived slim chance that the bill passes senate, @jlwallen wonders if there are systems in place to replace the funding received from income taxes.

@AncientTremor proposes better ways for the Republicans in the House of Representatives to spend their (and our) time than proposing bills senate “will never even look at.”

@WestieTX sides with the Republicans on this one.

@MrWallace7 thinks no tax on your income sounds great, but in the end, “it's a Trojan horse!”

“It speaks volumes that House Republicans’ first bill in their new majority is focused on making it easier for the wealthiest Americans and biggest corporations to pay even less in taxes,” said Groundwork Collaborative Executive Director Lindsay Owens.

“Instead of working to tackle the corporate profiteering that is driving inflation and hurting working families, this new Congress is actively rewarding it and tilting the playing field even more toward massive corporations and the rich.”

Meanwhile, Rep. Kat Cammack, R-Fla., said in a statement, “We’ve seen a continued growth of the IRS and a persistent punishment of hardworking Americans via the tax code. What we’re calling for is a simplified and fair code that works for all, not just some.”

This article was written and syndicated by Wealth of Geeks.