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US: Razor Thin GOP House Majority Sets Up Tricky Negotations On Govt Funding

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House Speaker Mike Johnson (R-LA) may be set for a one-seat majority in the House of Representatives after Democrat Adam Gray took the lead in the ongoing count for California’s 13th District. Such a razor-thin lead may impede the GOP's scope for legislation and provide leverage to Democrats in upcoming negotiations to extend Fiscal Year 2024 funding into next year. 

  • Punchbowl News reports: “If Gray were to win … Republicans would hold 220 seats to 215 for Democrats heading into the next Congress. Then factor in the resignation of former Rep. Matt Gaetz (R-Fla.) and the looming departures of GOP Reps. Elise Stefanik (N.Y.) and Michael Waltz (R-Fla.) for Trump administration posts, the margin would be down to 217-215 for several months. That’s a one-vote margin until at least early April when special elections can be held.”
  • Deputy Secretary Wally Adeyemo told reporters yesterday that the Treasury Department is urging Congress to include a provision in an upcoming FY24 Continuing Resolution to insulate the IRS from long-term budget cuts.   
  • Adeyemo said that without an anomaly in the CR, the agency could lose another $20 billion of its long-term funding and run out of money to crack down on tax cheats during FY2025, according to Punchbowl. Punchbowl adds: “The Biden administration is hoping to preserve what’s left of the money that Democrats gave the IRS in the Inflation Reduction Act. A lot of that money has been clawed back or spent, and Republicans will likely target what’s left.”
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House Speaker Mike Johnson (R-LA) may be set for a one-seat majority in the House of Representatives after Democrat Adam Gray took the lead in the ongoing count for California’s 13th District. Such a razor-thin lead may impede the GOP's scope for legislation and provide leverage to Democrats in upcoming negotiations to extend Fiscal Year 2024 funding into next year. 

  • Punchbowl News reports: “If Gray were to win … Republicans would hold 220 seats to 215 for Democrats heading into the next Congress. Then factor in the resignation of former Rep. Matt Gaetz (R-Fla.) and the looming departures of GOP Reps. Elise Stefanik (N.Y.) and Michael Waltz (R-Fla.) for Trump administration posts, the margin would be down to 217-215 for several months. That’s a one-vote margin until at least early April when special elections can be held.”
  • Deputy Secretary Wally Adeyemo told reporters yesterday that the Treasury Department is urging Congress to include a provision in an upcoming FY24 Continuing Resolution to insulate the IRS from long-term budget cuts.   
  • Adeyemo said that without an anomaly in the CR, the agency could lose another $20 billion of its long-term funding and run out of money to crack down on tax cheats during FY2025, according to Punchbowl. Punchbowl adds: “The Biden administration is hoping to preserve what’s left of the money that Democrats gave the IRS in the Inflation Reduction Act. A lot of that money has been clawed back or spent, and Republicans will likely target what’s left.”