House Panel to Consider GOP’s IRS Budget Cuts
House lawmakers today will consider a GOP proposal to drastically slash the IRS budget for fiscal year 2026 by $2.8 billion, a more than 20 percent cut from its 2025 funding level.
An Appropriations subcommittee is set to hold a markup on the legislation this evening.
Unveiled Sunday night, the proposal calls for cutting the annual IRS budget down to $9.5 billion, with steep cuts to its enforcement budget.
The agency is currently working on an annual budget of $12.3 billion, after Congress agreed to a continuing resolution to fund the government ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.