The U.S. House Committee on the Budget convened on March 8, 2024, to markup the Concurrent Resolution on the Budget for Fiscal Year 2025. The meeting focused on various amendments and discussions surrounding budget allocations, particularly regarding IRS funding and climate change initiatives.

The session began with a request from a committee member to submit an analysis from the Economic Policy Innovation Center regarding IRS revenue collections into the record, which was approved without objection. Following this, discussions turned to the effectiveness of IRS funding as part of the Inflation Reduction Act (IRA). A member highlighted that the IRS had collected only $160 million in revenue for fiscal year 2023, significantly lower than the projected $2.9 billion. This raised concerns about the efficacy of the funding aimed at increasing revenue through enhanced IRS capabilities.

Another committee member countered these claims, advocating for the amendment that would reject proposed cuts to the IRS and ensure that taxpayers are protected from what they termed extreme Republican policies. They argued that investing in the IRS is essential for combating tax evasion among wealthy individuals and for reducing waste and fraud in the tax system.

The committee then moved to consider an amendment related to climate change, introduced by a member from Vermont. This amendment emphasized the need for federal investment in clean energy and climate solutions, citing recent extreme weather events as evidence of the urgent need for action. The member pointed out that the IRA had made significant investments in climate initiatives, which they argued should not be rolled back.

In opposition, another member from Oklahoma criticized the proposed amendment, asserting that it would expand federal efforts to combat climate change at the expense of small businesses and economic growth. They argued that overregulation has hindered economic progress and that the current administration's regulatory policies have imposed significant costs on families and businesses.

The discussion culminated in a call for a recorded vote on the amendment concerning IRS funding, which was postponed for later consideration. The committee continued to address additional amendments, including one focused on climate change, with members expressing strong opinions on both sides regarding the balance between environmental responsibility and economic growth.

Overall, the meeting underscored the ongoing debate within Congress over budget priorities, particularly the balance between funding for government agencies like the IRS and addressing pressing issues such as climate change. The committee's discussions reflect broader national conversations about fiscal responsibility and the role of government in managing economic and environmental challenges.