Mr. Speaker, I rise to oppose the previous question. If we defeat the previous question, Republicans will amend the rule to include H.R. 5586, the Prohibiting IRS Financial Surveillance Act, legislation to prevent the IRS from snooping into Americans' personal financial accounts. Under President Biden and Congressional Democrats' policies, American families continue to be squeezed by inflation at the gas pump, at the grocery store, and in their monthly energy bills. But this inflation squeeze isn't enough for them. Now, they want to monitor the average American's bank account. As part of Democrats' misguided tax-and- spending spree, they have proposed new reporting requirements, from financial institutions to the IRS, regarding private account information. This vast government overreach would turn financial institutions in my district into local outposts of the IRS, all with the sole purpose of reporting Hoosiers' personal financial account information back to the Government. Make no mistake, this will capture virtually every American, who will be subject to increased levels of IRS intrusion in their daily lives. The IRS already has been challenged by the leak of thousands of documents, including sensitive taxpayer information. The collection of additional data would only exacerbate this problem and subject many Americans to the potential exposure of their personal information.…
On the recordOctober 21, 2021
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