10/18/2021 | Press release | Distributed by Public on 10/18/2021 14:50
Top Republican on the Ways and Means Committee Rep. Kevin Brady (R-TX) and Ways and Means Republicans today sent a letter to Secretary of the Treasury Janet Yellen expressing privacy concerns over President Biden's proposal to surveil American's private bank transactions.
In the letter, the Members wrote:
"We are skeptical of the need for this dangerous expansion of IRS oversight into the daily lives of Americans, have reason to believe the true targets are farmers, families, and small businesses, and question the IRS's capacity to protect this unprecedented amount of personal banking information.
"We recognize that even $10,000 de minimis annual threshold would sweep up the bank information of nearly every American with a job. The Administration's proposal has rightly been criticized for its near-universal scope, its significant risk to individual privacy, and its dangerous empowerment of the Internal Revenue Service (IRS).
"The Administration's proposal has rightly been criticized for its near- universal scope, its significant risk to individual privacy, and its dangerous empowerment of the Internal Revenue Service (IRS)."
Members also pressed Secretary Yellen to address a number of unanswered questions clarifying that the IRS will not seek transactional-level data on personal and business bank accounts.
CLICK HEREto read the full letter.
READ:Ways & Means Republicans Introduce Bill Prohibiting Biden's Invasive IRS Bank Surveillance Plan
BACKGROUND:
Democrats' invasive, supercharged IRS spying regime will snoop on Americans' bank transactions.
READ: REPORT: Biden's Tax Plan Turns IRS Into Spying Regime
The worst part - the burden of reporting falls on families, small businesses, and local banks.
Republicans are fighting to stop Democrats' plan for a supercharged IRS.