House panel passes funding bill with $100M for TMF

A House Appropriations subcommittee adopted a 2023 funding package on Thursday

A $100 million increase in the Technology Modernization Fund and a $35 million boost in the IRS's modernization programmes

The Subcommittee on Financial Services and General Government cleared the bill on a voice vote, approving it unanimously

The Office of Personnel Management will also receive $448 million from the legislation, which is one of 12 spending measures being crafted by the committee

Legislation signed into law by OPM provides for the agency's working capital fund created under the Modernizing Government Technology Act (MGTA) to continue to grow

The Small Business Administration will keep its working capital fund, which is also supported by this measure

The IRS's budget for fiscal year 2023 is $13.6 billion, an increase of $1 billion over the previous year

The tax agency will receive $310 million to update and replace decades-old IT systems as part of the modernization drive

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