To the editor:
The newly elected speaker of the U.S. House of Representatives, Mike Johnson, has revealed his priorities: protect the Republicans’ rich backers. Funds from the Inflation Reduction Act to allow the Internal Revenue System to ensure that large corporations and high-income and high-wealth individuals pay taxes owed, will now be spent on weapons for Israel, who already receives over $4 billion dollars of aid every year from the U.S.A.
That reallocation of funds is a blatant gift to the mega rich. The original $79 billion allocation to add additional staff and modernize antiquated computers, would have not only forced billionaires and millionaires to pay their fare share, it would also have raised tax revenues by $200 billion over 10 years, according to the Congressional Budget Office. Apparently, Republicans are more concerned about staying “in the money” than doing what is best for the country.