- September 30, 2021
- Posted by: Stratford Team
- Category: Business
Consumer Bankers President Richard Hunt on the impact of a potential increase to access and size of the IRS.
The state of Nebraska is saying a big “no” to the Biden administration’s plan that would give the Internal Revenue Service big government surveillance power over every day American’s bank accounts.
“My message is really simple. The people of Nebraska entrusted me to protect the privacy of these accounts and I am not going to comply with this. If the Biden administration sues me, we will take it all the way to the Supreme Court. We are going to fight every step of the way,” State Treasurer John Murante told FOX Business in an exclusive interview.
The proposal, which is roughly $79 billion of the $3.5 trillion spending bill, would give the IRS more muscle to force banks to report customers’ account inflows and outflows of $600 or more to the IRS. The White House has estimated the policy, which would apply to bank, loan and investment…