IRS Dodges Steep Budget Cuts in Bipartisan Funding Proposal (1)

The IRS would get $11.2 billion for the current fiscal year as part of bipartisan funding legislation released Sunday, a decrease from its current budget but one that holds off more draconian cuts sought by Republicans.

Appropriators hope to get the bill signed into law before Jan. 30 to avoid a shutdown of the majority of government agencies, including the Treasury Department.

House Appropriations Committee Chairman Tom Cole (R-Okla.) bundled funding for Treasury and other executive offices such as the White House with that for the State Department and other foreign operations.

“Our financial system will be protected, small businesses ...