To rescind certain balances made available to the Internal Revenue Service and appropriate such amounts to the Department of State Passport Office.

This bill rescinds amounts appropriated to the Internal Revenue Service for certain enforcement activities and departmental funding by the Inflation Reduction Act of 2022. It also appropriates funds to the Department of State passport office, to remain available until September 30, 2025 (a portion of such funds must be reserved for passport offices located in New York). Remaining funds must be deposited in the general fund of the Treasury for reduction of the national debt.

Bill 118 hr 4810, also known as the "Rescission of IRS Balances Act," aims to revoke certain funds that were previously allocated to the Internal Revenue Service (IRS) and redirect those funds to the Department of State Passport Office. The bill proposes to take back unused or unneeded funds from the IRS and transfer them to the Passport Office for their use.

The main goal of this bill is to reallocate resources in a more efficient manner, ensuring that taxpayer dollars are being used effectively. By rescinding balances from the IRS and appropriating them to the Passport Office, lawmakers hope to streamline government spending and prioritize the needs of the Passport Office, which plays a crucial role in issuing passports to US citizens.

Overall, Bill 118 hr 4810 seeks to make better use of government funds by transferring unused balances from one agency to another, ultimately benefiting the Department of State Passport Office and improving the efficiency of government operations.