July 17, 2014 in Nation/World

House measure would cut tax enforcement budget

 

WASHINGTON – The GOP-controlled House passed a $20 billion measure Wednesday that would slash budgets for enforcing tax laws and new financial regulations, and a healthy food initiative that’s a pet cause of first lady Michelle Obama.

The House passed the bill on a nearly party-line, 228-195, vote.

Companion legislation has yet to advance in the Senate and the White House has promised a veto of the House bill for numerous reasons, including a provision that would block the Internal Revenue Service from enforcing the mandate on individuals to buy health insurance under the Affordable Care Act.

The GOP-drafted measure denies the administration’s $35 million request to help community development banks finance projects aimed at making healthy foods more available in neighborhoods that lack grocery stores.

The measure is one of the more obscure of the 12 annual spending bills funding the Treasury Department, the IRS, White House staff and operations, and the Securities and Exchange Commission’s regulation of the financial sector.

Associated Press


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