House Speaker Mike Johnson cited concern about “fiscal stability” in saying that a Republican bill to provide aid for Israel would have “pay-...
House Speaker Mike Johnson cited concern about “fiscal stability” in saying that a Republican bill to provide aid for Israel would have “pay-fors in it.” But the legislation would increase the deficit, not pay for itself.
The bill calls for $14.3 billion in spending to respond to the attacks in Israel and proposes “budgetary offsets” by rescinding the same amount of funding to the Internal Revenue Service. That’s not an “offset,” multiple budget experts say. Reducing the IRS’ ability to collect taxes that are owed would lower revenues and therefore increase deficits....
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