To provide for a limitation on availability of funds for Department of Treasury, Internal Revenue Service, Business Systems Modernization for fiscal year 2024.
Impact
The bill is expected to have direct effects on the IRS's capacity to update and maintain its business systems, which play a foundational role in the agency's operations. By restricting the budget for modernization, there may be prolonged reliance on outdated systems, potentially leading to inefficiencies including delays in processing tax returns and responding to taxpayer inquiries. Critics may argue that such limitations could hinder improvements needed to better serve taxpayers and enhance compliance.
Summary
House Bill 2062 seeks to impose a limitation on the availability of funds for the Department of Treasury's Internal Revenue Service (IRS) Business Systems Modernization program for the fiscal year 2024. Specifically, it caps the appropriated funds at $150 million, which is a significant point of contention given that modernization of IRS systems is crucial for efficient tax administration. The bill's sponsors argue that such limitations can help control government spending and prioritize fiscal responsibility.
Contention
Debate around HB 2062 is likely to focus on the balance between fiscal responsibility and the need for operational effectiveness within the IRS. Supporters of the funding limitation assert that it is a reasonable measure in the context of broader budgetary constraints, while opponents fear it may undermine the ability of the IRS to function effectively and adapt to evolving technological and taxpayer needs. The discourse may also reflect broader ideological differences regarding government spending and the role of federal agencies.
To provide for a limitation on availability of funds for Department of Treasury, Department-Wide Systems and Capital Investments Programs for fiscal year 2024.
To provide for a limitation on availability of funds for Department of Treasury, Bureau of the Fical Service, Salaries and Expenses for fiscal year 2024.
To provide for a limitation on availability of funds for Independent Agencies, Small Business Administration, Loan Modernization and Accounting System for fiscal year 2024.