Request Line: (870) 277-1080 [email protected]
Text Your Gift to KLEK1 to 44-321 LEARN MORE

Your Community Radio Station is possible thanks to this supporter!  Become an underwriter.

Boozman Backs Bill to Block Democrats’ IRS Snooping Proposal

Written by Press Release

October 22, 2021

WASHINGTON – U.S. Senators John Boozman (R-AR) and Tom Cotton (R-AR) joined Senator Tim Scott (R-SC) and their Republican colleagues to introduce the Prohibiting IRS Financial Surveillance Act, a bill to prevent the implementation of Democrats’ plan to give the Internal Revenue Service (IRS) access to the banking transaction information of virtually every American.

“The Biden administration and Congressional Democrats claim this is a ‘scaled back’ version of their plan which will help pay for their massive tax-and-spending spree, but the truth is it will still put Americans’ private financial information at risk, impose a tremendous burden on banks and credit unions, and give the troubled IRS even more power despite serious doubts about its ability to protect the massive amount of data it sweeps up or its usefulness,” Boozman said. “I’m pleased to join my colleagues on this legislation to prevent such an ill-advised, unjustifiable increase of Big Brother’s reach and authority.”

“The Democrats’ plan to allow the IRS to spy on the bank accounts of nearly every person in this country, even those below the poverty line, should be deeply concerning to anyone who values privacy and economic inclusion,” said Scott. “Of the more than 7 million American households that are currently unbanked, the majority are low-income, rural, and minority Americans. Implementing the Biden reporting scheme will disproportionately harm those who need greater access to our financial institutions and people living paycheck to paycheck. My colleagues and I will not stop fighting the Democrats’ wrong-headed proposal to implement more federal government intrusion into our lives.”

The current White House proposal would allow the IRS to access every working American’s financial information by requiring financial institutions to report to the IRS bank account holders’ transactions when the cumulative total of deposits and withdrawals reaches $10,000. Under the Biden reporting requirement, a family whose monthly expenses total just $834 would event be subject to this rule. The Joint Committee on Taxation has analyzed the proposal and found it is likely to impact taxpayers in every income bracket, including those making less than $50,000. The Prohibiting IRS Financial Surveillance Act would block the Biden administration’s proposal and prevent this violation of privacy and unprecedented level of federal government overreach.

The bill is co-sponsored by the ranking members of the Senate finance and banking committees, Senators Mike Crapo (R-ID) and Pat Toomey (R-PA), as well as Senators Mitch McConnell (R-KY), John Thune (R-SD), John Barrasso (R-WY), Joni Ernst (R-IA), Roy Blunt (R-MO), John Cornyn (R-TX), Roger Marshall (R-KS), Thom Tillis (R-NC), Cynthia Lummis (R-WY), Steve Daines (R-MT), John Kennedy (R-LA), Jerry Moran (R-KS), Kevin Cramer (R-ND), Richard Shelby (R-AL), Mike Rounds (R-SD), Chuck Grassley (R-IA), Richard Burr (R-NC), Todd Young (R-IN), John Hoeven (R-ND), Cindy Hyde-Smith (R-MS), Roger Wicker (R-MS), Marsha Blackburn (R-TN), Jim Risch (R-ID), Mike Braun (R-IN), Shelley Moore Capito (R-WV), Ben Sasse (R-NE), Mitt Romney (R-UT), James Lankford (R-OK), Jim Inhofe (R-OK), Dan Sullivan (R-AK), Josh Hawley (R-MO), Marco Rubio (R-FL), Rick Scott (R-FL), Ted Cruz (R-TX), Bill Hagerty (R-TN), Tommy Tuberville (R-AL), Lindsey Graham (R-SC), Ron Johnson (R-WI), Rand Paul (R-KY), Mike Lee (R-UT), Susan Collins (R-ME), Deb Fischer (R-NE) and Rob Portman (R-OH).

Boozman has sounded the alarm on a similar IRS snooping plan and called on the Senate Majority Leader to abandon the overreaching proposal. He wrote a column for The Hill warning of the additional threat to the security of personal information this proposal, if enacted, would pose.

Original article source: https://www.boozman.senate.gov/public/index.cfm/2021/10/boozman-backs-bill-to-block-democrats-irs-snooping-proposal | Article may or may not reflect the views of KLEK 102.5 FM or The Voice of Arkansas Minority Advocacy Council

0 0 votes
Article Rating

Related Articles

Boozman Takes Action to Lower Tax Burden for Public Service Nurses

WASHINGTON- U.S. Senator John Boozman (R-AR) joined Senators Jeff Merkley (D-OR), Patty Murray (D-WA) and Roger Wicker (R-MS) to introduce the Nurse Corps Tax Parity Act, legislation to ensure nurses in the federal Nurse Read more

Boozman, Cotton Demand Answers from Education Secretary on Scheme to Label Parents “Domestic Terrorists”

WASHINGTON–U.S. Senators John Boozman (R-AR) and Tom Cotton (R-AR) are demanding answers from U.S. Department of Education Secretary Miguel Cardona on reports that he played a key role in orchestrating Read more

Boozman Denounces Democrats’ Attempts to Silence the Minority

WASHINGTON- U.S. Senator John Boozman (R-AR) is fighting to preserve the Senate filibuster as President Biden and Senate Democrats aim to erode the voice of the minority in order to advance their Read more

Preserving filibuster offers protections for smaller states like Arkansas

I've had the privilege of serving Arkansans in the U.S. Senate and U.S. House of Representatives in both the majority and the minority, so I know how unmistakably important it Read more

Comments

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Your Community Radio Station is possible thanks to this supporter!  Become an underwriter.

Pin It on Pinterest