Consolidated Appropriations Act, which he signed into law in March to finance the government for the remainder of fiscal year 2024.
Existing policy, as stated in the fiscal year 2024 omnibus agreement, mandates that the IRS return an additional $20 billion.
In supplementary cash since Congress failed to remove wording in the December CR authorising a corresponding spending decrease.
The revocation of approximately $1.4 billion in IRS funding was part of the Fiscal Responsibility Act, which Biden signed into law in June 2023.
More than half of the $80 billion that the Biden administration and Democratic legislators gave to the IRS under the IRA—a sum.
That Republican lawmakers did not support—was represented by these several revocations of supplementary IRS money, totalling more than $40 billion.
