Senate Majority Leader Chuck Schumer, D-N.Y., vowed to kill the House-passed bill providing $14.3 billion in aid to Israel in response to the Hamas terrorist attack.
"Instead we will work together on our own bipartisan emergency aid package that includes aid to Israel, Ukraine, competition with the Chinese government, and humanitarian aid for Gaza." Schumer described the House bill as an "Unserious and woefully inadequate aid package," adding that President Biden has vowed to veto the legislation.
The IRA included $80 billion in total for the hiring of new IRS agents for enhanced tax collection at the agency.
Prior to criticism of the proposed IRS cuts, Schumer had said that "Emergency" funding like the Israel and Ukraine aid should be borrowed rather than offset, which would add to the deficit.
"Emergency foreign aid should not be offset," Schumer said during a news conference on Tuesday.
Scalise said the CBO's analysis shows that the only way these new agents can raise enough revenue under the IRA is to collect about $4 billion in taxes from those earning under $400,000 annually.
Biden's $105 billion proposed foreign aid package includes the Israel aid, plus $61 billion for Ukraine, $2 billion in additional assistance for Taiwan and Indo-Pacific security, roughly $9 billion for humanitarian assistance to help "Palestinian refugees in the West Bank and surrounding areas," and $6.4 billion for U.S. border operations.
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