First House GOP Bill Would Hike Deficit by $114 Billion

“After voting on the adoption of a rules package Monday night, the House plans to vote on a bill from Rep. Adrian Smith (R-NE) that would yank back about $80 billion in IRS funding, which Democrats included in their party-line tax, climate and health bill last year,” Politico reports.

“But the Congressional Budget Office has put a big pricetag on this first legislative priority.”

“The CBO estimates that the bill to roll back IRS funding will increase the deficit by more than $114 billion over a decade, reducing spending by more than $71 billion and decreasing revenues by nearly $186 billion.”