The first economic plan the new GOP House proposed would raise the deficit by $100 billion

Jan 9 2023 by Business Insider

 
House Speaker Kevin McCarthy holds the speaker's gavel high after winning election as speaker of the House early Saturday morning.

Win McNamee/Getty Images

Now that Republicans control the House, they're ready to start cutting spending. Their first target: $80 billion in IRS funding from the Democrats' Inflation Reduction Act. But a nonpartisan CBO analysis found cutting that spending would actually increase the deficit.

The GOP, newly in control of the House, has one big objective in mind:

Continue Reading The first economic plan the new GOP House proposed would raise the deficit by $100 billion