Family and Small Business Taxpayer Protection Act
This bill, the Family and Small Business Taxpayer Protection Act, would take back (rescind) any unobligated funds that were provided to the Internal Revenue Service (IRS) under certain sections of the Inflation Reduction Act of 2022 (Public Law 117-169). In practical terms, if the IRS had money set aside for specific activities under those sections but had not yet obligated (committed) or spent it by the time the bill becomes law, that money would no longer be available for IRS use. The goal appears to be limiting the IRS’s funding derived from those IRA provisions. The bill’s text provides only this rescission and does not include alternative funding, policy changes, or new programs. It does not specify how the impact would be measured or any transition plan, and it leaves the broader policy context to future action by Congress.
Key Points
- 1Short title: The act is titled the “Family and Small Business Taxpayer Protection Act.”
- 2Core action: It rescinds unobligated balances that were made available to the IRS by specific provisions of section 10301 of the Inflation Reduction Act of 2022.
- 3Scope of rescission: Applies to unobligated balances listed under paragraphs (1)(A)(ii), (1)(A)(iii), (1)(B), (2), (3), (4), and (5) of section 10301 of Public Law 117-169.
- 4Timing: The rescission takes effect as of the date of enactment.
- 5Legislative status: Introduced in the House and referred to the House Ways and Means Committee; no further details in the text provided.