House GOP’s $14B Israel aid bill offset with cuts to IRS cash in Biden’s Inflation Reduction Act
House Republicans have introduced a bill to provide $14 billion in aid to Israel, including funding to address counter-terror measures, missile defense, and military assistance. To offset the cost of the aid package, the bill proposes to cut funding from the Biden administration’s Inflation Reduction Act. The Biden administration has proposed a tax credit for certain middle-class families under the Act, which would be partially offset by cuts to the IRS in the proposed bill. The GOP proposal is likely to face opposition from the White House, as President Biden has pledged to remain committed to his economic recovery plan.