January 09,2023

Press Contact:

Ryan Carey

Wyden Statement on CBO Score of House Republican Bill Rescinding IRA Funding

Washington, D.C. — U.S. Senator Ron Wyden, D-Ore., issued the following statement on the newly released CBO score of the House Republican bill rescinding funding Democrats passed in the Inflation Reduction Act to crack down on tax cheating by the wealthy and corporations. CBO found the House Republican bill would add more than $114 billion to the deficit and reduce revenues by nearly $186 billion.  

“The CBO has confirmed what was obvious from the start — the Republican IRS bill, a handout to wealthy tax cheats, would add $114 billion to the deficit,” Senator Wyden said. “It’s clear that all the Republican talk about the deficits and debt is little more than an excuse to demand cuts to Medicare, Medicaid, Social Security and the other federal programs that lift up working Americans and sustain the middle class. It’s the same old Republican playbook we’ve seen many times before — goodies for the top paid for by everybody else. Senate Democrats will not entertain it.”