Thirty-one of the Senate’s 49 Republicans are co-sponsoring a proposal to nullify a Biden administration proposal by banning the IRS from conducting surveillance on the financial affairs of virtually all individual Americans.
The lead co-sponsors of the “Prohibiting IRS Financial Surveillance Act” include Sen. John Boozman and Sen. Tom Cotton, both from Arkansas, as well as Senate Finance Committee Ranking Member Sen. Mike Crapo (R-Idaho) and Senate Banking, Housing and Urban Affairs Ranking Member Sen. Tim Scott (R-S.C.).
The proposal prohibits the Secretary of the Department of the Treasury from tracking “the inflows or outflows of any account maintained by such institution, or (2) any balances, transactions, transfers, or similar information with respect to any such account …”…