Stick a fork in my eye...It's debt ceiling season! As we anticipate the House's vote on the first significant bill of the year, the Limit Save Grow Act of 2023, it's essential to examine the details of this debt ceiling bill and the potential impact it could have. President Biden has threatened to veto the bill, even if Senate Democrats passed THIS VERSION. So, all that matters is if House Republicans have the will to stick to their guns. I think they do have the will, but let's examine what they should be passing today.
First and foremost, the Limit Save Grow Act aims to eliminate the IRS expansion bill passed by Democrats last year. This is ForAmerica's priority 1 and 1a. We believe the IRS bill was intended to harass organizations, donors, activists, and anyone promoting conservative principles. Anyone suggesting that Democrats passed $80 billion worth of legislation with 80,000-plus new agents to go after Venmo accounts isn't thinking big enough.
These 80,000 agents will be armed with $80 billion to target specific groups and individuals. Funding conservatism's demise with our own taxpayer dollars is NOT an option. The House has made it clear that they won't raise the debt ceiling if the IRS bill isn't gutted. Expect a government shutdown over this issue by itself.
The bill also addresses other concerns, such as reclaiming unspent COVID-19 funds, repealing Green New Deal tax credits, and prohibiting student loan giveaways. Over ten years, this legislation could save an estimated $4.3 trillion.
Despite the potential benefits, Biden has promised to veto the bill, even if it gains bipartisan support in the Senate. This lack of compromise means Republicans have no reason to negotiate with the president. Instead, they should focus on passing the bill, leaving Washington, and promoting their package to the American people through conservative media channels, townhalls, constituent outreach, etc.
I dare President Biden try to sell an expansion of the IRS to the American people with inflation and other pressing concerns. The IRS has no natural constituency to defend or promote it. No one asked for this back in 2022. No one wants to fund it now. Gutting it was THE SIGNATURE promise Republicans made during the mid-terms. Funding it now via a debt ceiling increase is simply not an option.