House Republicans Propose $10.119 Billion IRS Funding for FY 2025, Cutting $2.2 Billion, 18% Reduction

Jun 5, 2024, 10:23 AM

House Republicans have proposed funding the IRS at $10.119 billion for fiscal year 2025, representing a $2.2 billion reduction from the fiscal year 2024 level of $12.3 billion. The proposed cuts primarily target the agency’s enforcement funding, reducing it by $2.0 billion. This amounts to a roughly 18% cut from this year’s funding levels. The proposal has faced objections from Democrats, who argue that defunding the IRS will increase deficits, as every $1 spent by the IRS brings in multiple dollars in return, particularly from auditing wealthy individuals. Despite these objections, House Republican appropriators have advanced the funding bill.