Sept. 12: bills handled by Finance Committee

Sept. 12: bills handled by Finance Committee

The Finance Committee handled S.4817 bill on Sept. 12, according to the US Congress.

Bill S.4817 titled “A bill to prevent the use of additional Internal Revenue Service funds from being used for audits of taxpayers with taxable incomes below $400,000 in order to protect low- and middle-income earning American taxpayers from an onslaught of audits from an army of new Internal Revenue Service auditors funded by an unprecedented, nearly $80,000,000,000, infusion of new funds” was read twice and referred to the Committee on Finance by the Senate. The bill is sponsored by Sen. Mike Crapo with John Barrasso, Richard Burr, Bill Cassidy, John Cornyn, Steve Daines, Charles Grassley, James Lankford, Rob Portman, Ben Sasse, Tim Scott, John Thune, Patrick Toomey, Todd Young as cosponsors.

The Finance Committee moves forward in some way on one bill per day.

Most bills have a hearing where those involved explain why they are for or against the bill. Roughly 8,000 bills are addressed by committees each year but only about 800 make it to the floor of Congress, according to ushistory.org.

A 2019 report from the Brookings Institute argued committees aren’t capable of delving fully into the issues they address and are forced to rely on lobbyists.

Bills Addressed by Finance Committee on Sept. 12
Bill NameSponsorAction
A bill to prevent the use of additional Internal Revenue Service funds from being used for audits of taxpayers with taxable incomes below $400,000 in order to protect low- and middle-income earning American taxpayers from an onslaught of audits from an army of new Internal Revenue Service auditors funded by an unprecedented, nearly $80,000,000,000, infusion of new funds.Sen. Crapo, MikeSenate