I thank my colleague from Minnesota for the time. Mr. Speaker, I rise in opposition to the previous question so that we can immediately consider H.R. 5586. This bill would kill a Biden administration proposal that would allow IRS agents to comb through the bank accounts of any American who spends more than $10,000 a year. To put that in perspective, $10,000 a year equates to just $28 a day, $850 a month, or half of the average Minnesota mortgage payment. In other words, the Biden administration wants the IRS to be able to spy on tens of millions of Americans. Don't be mistaken. This proposal does not just target the 1 percent, as the President sometimes likes to claim. Instead, it is pointed directly at working American families. Today, I led a letter, with more than 200 of my colleagues, urging Treasury Secretary Janet Yellen to scrap this proposal to spy on American citizens. This is not China. We must protect Americans' right to privacy and stop this proposed intrusive, unnecessary Biden financial reporting requirement. Mr. McGOVERN. Mr. Speaker, let me just say, not only will my Republican friends not condemn the President's outrageous and unacceptable and unconscionable statement today, but they won't even talk about what we are here for. That is what fear looks like, and it is really unbelievably sad. Mr. Speaker, I yield 2 minutes to the gentlewoman from Pennsylvania (Ms. Dean).
On the recordOctober 21, 2021
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