CBO Estimates Budgetary Effects of Rescinding IRS Funding
CBO Estimates Budgetary Effects of Rescinding IRS Funding
- AuthorsSwagel, Phillip L.
- Institutional AuthorsU.S. Congressional Budget Office
- Subject Areas/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2023-31612
- Tax Analysts Electronic Citation2023 TNTF 210-142023 TNTG 210-22
November 1, 2023
Honorable Steny H. Hoyer
U.S. House of Representatives
Washington, DC 20515
Honorable Brad Schneider
U.S. House of Representatives
Washington, DC 20515
Re: Estimated Effects on the Deficit of Rescinding Funding for the Internal Revenue Service and Related Agencies
Dear Congressman Hoyer and Congressman Schneider:
You have asked the Congressional Budget Office to provide information on the estimated budgetary effects of rescinding $14.3 billion in mandatory funding for the activities of the Internal Revenue Service and other agencies as originally provided in Public Law 117-169 (an act to provide for reconciliation pursuant to title II of S. Con. Res. 14).
The attachment shows CBO's year-by-year estimate of the budgetary effects of such a rescission, which was included in section 306 of the Israel Security Supplemental Appropriations Act, 2024, as posted on the website of the House Committee on Rules on October 30, 2023. CBO estimates that enacting section 306 would increase deficits over the 2024-2033 period by $12.498 billion. That increase results from a decrease in outlays of $14.288 billion and a decrease in revenues of $26.786 billion.
I hope that this information is useful to you. If you have any additional questions, please contact me.
Sincerely,
Phillip L. Swagel
Director
Attachment
cc:
Honorable Jodey Arrington
Chairman
House Committee on the Budget
Honorable Brendan F. Boyle
Ranking Member
House Committee on the Budget
Estimated Budgetary Effects of the Israel Security Supplemental Appropriations Act, 2024, as Posted on the Website of the House Committee on Rules on October 30, 2023
https://rules.house.gov/bill/118/hr-Israel-Supplemental
- AuthorsSwagel, Phillip L.
- Institutional AuthorsU.S. Congressional Budget Office
- Subject Areas/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2023-31612
- Tax Analysts Electronic Citation2023 TNTF 210-142023 TNTG 210-22
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