Ohio’s GOP Congressional Delegation Support HR 5586 to Limit IRS Access to Banking Transactions

The vast majority of Ohio’s 11 GOP congressional delegates have signed on as co-sponsors of a House resolution opposing a proposal granting the Internal Revenue expanded power to reach into the private financial transaction records of Americans’ financial accounts.

The wall of support for House Resolution 5586, filed Oct. 15 by U.S. Representative Drew Ferguson IV, R-GA-3, comes even as the Biden Admnistration modified an earlier policy proposal that critics have said would have covered nearly anyone with a financial account as it seeks to catch taxpayers underreporting income.

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Ohio Attorney General Yost, 19 Other Attorney Generals Fire Off Letter Opposing Planned ‘Invasive’ IRS Bank Data Grab

Dave Yost

Ohio Attorney General Dave Yost and 19 other state attorneys general have asked President Joe Biden and Treasury Secretary Janet Yellen to withdraw a plan to allow require banks, credit unions and other financial institutions to report massive amounts of personal financial data to the Internal Revenue Services in a stated effort to track down tax cheats.
The proposal within the $3.5 trillion Build Back Better budget reconciliation package would require financial institutions to supply data on accounts of $600 or more with $600 or more in annual transactions.

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