As Democrats try to figure out how to pay for their massive expansion of government programs through the reconciliation process, they have come up with a proposal that would force banks and credit unions to report all inflows and outflows of customers' bank accounts over $600 to the IRS.
Criticism of a proposal requiring banks to report customer transactions to the IRS.
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Not one small business has said, yeah, we need more rules and regulations. Not one.
the Biden administration's burdensome regulatory agenda has negatively impacted Main Street America.
This may sound like a small technical change, but it can have a big impact on our constituents.
Thank you, Chairman Williams for including this legislation in our markup today and I hope that all of my colleagues on both sides of the aisle will agree that simple, clear language is a way to ensure prosperity for our small businesses.
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