Congressional leadership has cut a controversial program from their new budget bill that would have allowed the IRS to gain unprecedented information from Americans’ bank accounts after the measure drew bipartisan criticism. The program would have expanded the IRS’s ability to look into the details of Americans’ bank transactions. Originally, the IRS would have been able to gain information on all accounts with inflows and outflows of more than $600 per year. Republicans and banks strongly criticized the program, referencing reported concerns by their constituents and customers over the plan and condemning the new regulatory burdens that the program would place on the private sector. Democrats, however, were largely supportive of the plan. Speaker of the House Nancy Pelosi (D-Calif.), when asked what she would say to those concerned by the program, expressed doubted whether such concerns existed. “With all due respect, the plural of anecdote is not data,” she …
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta