A new bill proposed by House Republicans would stop Joe Biden‘s IRS from implementing its new plan to spy on Americans.
Hidden inside Biden’s massive $3.5 trillion bill is a provision requiring banks to report any transaction of $600 or more to the IRS. When this hidden provision was exposed, many Americans were rightfully angered.
While the left and Joe Biden claim that the intent of this IRS spying would be to stop the wealthy elite from evading taxes, Americans asked: why $600? If the point was to spy on the wealthy, why is the amount set so low that it would effect a significant majority of average Americans? The answer is obvious: it isn’t about the wealthy, it’s about spying on everyone.
The hidden provision in the Democrats bill would give the IRS significant power to scrutinize Americans’ finances, as well as creating a huge mess for small banks.
House Republicans are planning to unveil a bill that would block the Biden administration from giving the IRS additional scrutiny over the American people. The bill, entitled the Prohibiting IRS Financial Surveillance Act, is meant to prevent the Internal Revenue Service from adopting Biden’s proposal.
Fox Business reports:
“The bill from Rep. Drew Ferguson, R-Ga., would prohibit Treasury Secretary Janet Yellen from requiring financial institutions to report the in-flows and out-flows of any account they maintain, excluding any monitoring that exists under current law. It was co-sponsored by every Republican member of the powerful House Ways and Means Committee, including ranking member Rep. Kevin Brady, R-Texas.“
After news of the proposed bill was reported, Rep. Ferguson spoke out about Biden’s attempt to spy on Americans.
“This IRS surveillance is an invasion of individual’s privacy and with Democrats’ history of weaponizing the IRS for their own political gain, it’s in every American’s best interest that we prevent the use of private financial information for this type of egregious power play,” Ferguson said in a statement.
While Republicans do not currently hold the majority in either chamber of Congress, there is the possibility that some more moderate Democrats could join the GOP in supporting this bill. Hopefully, the Biden administration’s latest attempt at government overreach will not be successful.