The GOP-led House is trying to set a fiscally responsible example starting with its plan to offset $14.3 billion in aid for Israel by slashing the same amount of funds meant for the Internal Revenue Service (IRS), according to Speaker Mike Johnson (R-LA).
In an interview on “Fox News Sunday,” Johnson shot back at Senate Majority Leader Chuck Schumer (D-NY), who claimed the legislation — which passed with bipartisan support on Thursday — was not a “serious” proposal.
“It’s really surprising to hear Sen. Schumer say that it’s not a serious proposal,” Johnson said, noting that the amount matches what the Biden administration sought from Congress, along with tens of millions of dollars for other national security issues such as Ukraine’s fight against Russian invaders.
WATCH: @SpeakerJohnson on his plan to avoid a government shutdown and pass aid for Israel and Ukraine. pic.twitter.com/c0B77hCPOG
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“What they don’t like is that in the House, we’re trying to be good stewards of the taxpayers’ resources,” he added. “We offset that spending. Instead of printing new dollars and/or borrowing it from another nation to send over to fulfill our obligations and help our ally, we want to pay for it. What a concept, and we’re trying to change how Washington works.”
The House Republican measure aims to further cut the budget of the IRS after President Joe Biden secured $80 billion through the Inflation Reduction Act to bolster and modernize the agency over 10 years — with an agenda to commit more than half of the money to enforcement, particularly in going after wealthy tax evaders — only for up to $21.4 billion to get clawed back as part of a debt ceiling deal in June.
Twelve Democrats broke ranks and joined with the vast majority of Republicans in approving the legislation, even after the White House signaled that Biden would veto the measure. Schumer claimed the House GOP plan “wastes precious time at a moment when we need to help Israel, Ukraine and send humanitarian aid to Gaza ASAP.” He vowed Senate would ignore it and “work on our own bipartisan emergency aid package that includes funding for aid to Israel, Ukraine, humanitarian aid including for Gaza, and competition with the Chinese Government.”
Johnson, who became speaker late last month, is starting his reign with an eye toward fiscal restraint. He spoke to anchor Shannon Bream about his methodical approach to averting a government shutdown later this month while bringing forth individual spending bills. And Johnson emphasized that changing the “trajectory” leading to the federal debt reaching $33.6 trillion must be a top priority, even when it comes to providing emergency assistance to U.S. ally Israel as it fights Hamas following its terrorist attacks last month.
Though some have criticized the House GOP legislation by seizing on a Congressional Budget Office (CBO) analysis that found the offset idea would decrease revenues by $26.8 billion over 10 years and therefore increase the federal deficit by $12.5 billion over that time period, Johnson shrugged off the critique, saying, “Only in Washington can you cut funding, add a pay-for to a new spending measure, and they say it’s terrible for the deficit.”
In addition, Johnson signaled openness to providing funds to tackle other national security concerns raised by the Biden administration, including the war in Ukraine and border security, but stressed they must be considered in the “proper order.”