I wanted to update you quickly on recent legislative changes regarding the debt ceiling. A new draft bill, the “Fiscal Responsibility Act of 2023,” has been released, and I want to highlight its impact on business owners like yourself.
Key Points from the Bill:
- Rescinding Unspent COVID-19 Funds: Unspent COVID-19 funds will be redirected to address ongoing challenges effectively.
- Revised IRS Expansion Plans: The IRS expansion budget will be reduced, with funds allocated for modernization and additional audits.
- Capping Spending on Non-Defense Programs: The bill proposes to maintain spending levels on non-defense programs for the next two years, with a slight increase in 2025.
- Student Loan Relief: The bill includes provisions to lift student loan payments and the interest freeze.
What impact does this have on you? 😮
Let’s talk and schedule your appointment here! 📅💬