Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

House GOP’s $14B Israel aid bill offset with cuts to IRS cash in Biden’s Inflation Reduction Act

by October 31, 2023
October 31, 2023
House GOP’s $14B Israel aid bill offset with cuts to IRS cash in Biden’s Inflation Reduction Act

House Republicans have rolled out a bill giving $14.3 billion in aid to Israel, while cutting into cash President Biden allocated toward the Internal Revenue Service (IRS) last year.

The 13-page bill released on Monday would completely offset the foreign aid by rescinding those funds from the Inflation Reduction Act passed last year. Specifically, it targets some of the $80 billion the package gave to the IRS.

It comes as Israel continues to fight a bloody war against terror group Hamas. Hamas militants attacked Israeli towns and villages earlier this month, killing most of the 1,400 casualties Israel has seen in the conflict so far. Thousands of Palestinians have also been killed.

Israel is shaping up to be the first big test for newly elected Speaker Mike Johnson, R-La., whose first act on the House floor as leader was to pass a bipartisan resolution condemning Hamas. 

He’s expected to hold a vote on the Israel aid bill on Thursday.

It will likely put Democrats in a tough spot between the political fallout of rejecting Israel aid and the bill’s removal of funds from Biden’s Inflation Reduction Act. 

And the bill puts Johnson at odds with the Democrat-controlled Senate and White House, both of which are pushing for Israel aid to be tied with dollars for Ukraine’s defense against Russia. 

However, the cuts to IRS funding is likely to please conservatives – Rep. Chip Roy, R-Texas, told Hill Country Patriot Radio on Monday that he would support Israel aid if it was offset with budget cuts. 

‘The American people must see that it’s going to cost something if we’re going to give another $14 billion to Israel. So I’m for it. But it should be paid for…with real money, not budgetary gimmicks,’ Roy said.

Earlier this month Biden asked Congress to approve a mammoth $106 billion supplemental funding request with $14.3 billion for Israel, more than $60 billion for Ukraine, just over $13 billion for U.S. border security and an additional $10 billion in humanitarian assistance. 

Johnson made clear he would not be putting the entire package together on the House floor, something a significant number of conservatives also opposed.

‘We are going to move a standalone Israel funding bill this week in the House. I know our colleagues, our Republican colleagues in the Senate, have a similar measure,’ Johnson told ‘Sunday Morning Futures.’

‘There are lots of things going on around the world that we have to address, and we will. But right now, what’s happening in Israel takes the immediate attention. And I think we’ve got to separate that and get it through. I believe there will be bipartisan support for that, and I’m going to push very hard for it.’

Just two Republican lawmakers have come out against the Israel funding so far, GOP hardliner Reps. Marjorie Taylor Greene, R-Ga., and Thomas Massie, R-Ky.

Last week a group of GOP senators led by Sens. Roger Marshall, R-Kansas, Ted Cruz, R-Texas, and Mike Lee, R-Utah, introduced a bill in the Senate to strip the $14.3 billion in Israel funding from Biden’s request to move it on its own.

Elizabeth Elkind is a reporter for Fox News Digital focused on Congress as well as the intersection of Artificial Intelligence and politics. Previous digital bylines seen at Daily Mail and CBS News.

Follow on Twitter at @liz_elkind and send tips to elizabeth.elkind@fox.com

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Marjorie Taylor Greene puts heat on Republicans to vote for Rashida Tlaib censure
next post
White House compares ‘chilling’ Russian airport storming to anti-Jewish pogroms of 19th and 20th centuries

You may also like

Insider Ronna McDaniel Refuses Open Debate With Other...

December 17, 2022

MASS SHOOTER IDENTIFIED in St. Louis School Shooting...

October 25, 2022

Republicans question report White House ‘cocaine culprit’ may...

July 8, 2023

Federal judge rules against California’s alligator product ban

March 9, 2023

South Korea demands withdrawal of North Korean troops...

October 22, 2024

‘Children are being trafficked’: Speaker McCarthy warns how...

July 30, 2023

Prince William calls for end of war in...

February 21, 2024

Gov. Gavin Newsom likely to announce California budget...

May 12, 2023

Vermont advances bill allowing assisted suicide for noncitizens

February 15, 2023

‘Who the Hell Can Blame Joe Manchin for...

September 28, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved