Ogles said in a statement that loan fees would be reduced "as high as 65%" and would be paid for by "rescinding" $4.8 billion from the $80 billion earmarked for the IRS through the Inflation Reduction Act.
"The Biden-Harris Administration is auctioning off American houses to criminal illegal aliens, leaving countless American veterans homeless on the streets and many unable to purchase a home," Ogles said in a statement shared with the Washington Examiner. "My bill will dramatically reduce VA home loan fees and allow our servicemembers to be rewarded instead of punished when buying a home."
"Not only will this legislation help veterans, but it will not affect taxpayers as this will be paid for by cutting billions from the ever-expanding IRS," he added.
Reps. Anna Paulina Luna (R-FL) and Randy Weber (R-TX) co-sponsored the bill, which is titled the Affordable Housing For Veterans Act. Luna said the bill could help military or former military members experiencing homelessness. Veteran homelessness had steadily declined since 2010 but saw a 7.4% increase in 2023.
"Our veterans and servicemembers have given everything for our country, and the amount of homelessness among them is terrifying," Luna, who is an Air Force veteran, said. "While the IRS gets huge checks from the federal government, that money could go toward more important things -- like making it easier for our veterans to get a home."
"I'm proud to co-sponsor Rep. Ogles' Affordable Housing for Veterans Act," she continued. "It is time we give back to our fellow patriots who have put their lives on the line for us."
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
The bill is another effort by Republicans to divert funds from the IRS to other issues. The Inflation Reduction Act granted $80 billion to the IRS over a 10-year period, and Democrats said it would serve to help the agency ramp up its enforcement efforts on high-income taxpayers.
The GOP-controlled House passed a bill last year that rescinded nearly all of the agency's funding granted by the Inflation Reduction Act in part because of GOP members's fear that the IRS would use an influx of auditor hiring to target the middle class.