Republican Leaders of Banking, Finance Committees Introduce Bill to Block IRS Surveillance, Protect American Taxpayers
Press Release
U.S. Senator Tim Scott (R-S.C.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, Senator Mike Crapo (R-Idaho), Ranking Member of the Senate Committee on Finance, and other Senate Republican colleagues introduced the Prohibiting IRS Financial Surveillance Act, which will block future progressive political efforts that would force the Internal Revenue Service (IRS) to snoop on the private information of American taxpayers.
In 2021, the Biden administration proposed new requirements that would have directed the IRS to collect the private transaction information of virtually every American. This legislation will protect taxpayers by prohibiting such requirements from ever being implemented.
"Under the Biden administration and progressive leadership, the IRS has proposed outrageous actions that threaten the privacy of American taxpayers," said Sen. Scott. "In light of this pattern, this legislation will prevent the IRS from taking future steps to encroach on the lives and finances of everyday Americans."
"Americans are justifiably concerned about providing sensitive customer data to the IRS, an agency with an extensive history of leaks, hacks and other violations of taxpayer confidentiality," said Sen. Crapo. "They loudly rejected the IRS bank reporting dragnet when it was originally proposed, and this legislation will prevent the IRS from turning banks and credit unions into private investigators for law-abiding Americans."
The bill is cosponsored by Senators Mike Crapo (R-Idaho), John Barrasso (R-Wyo.), Marsha Blackburn (R-Tenn.), John Boozman (R-Ark.), Mike Braun (R-Ind.), Bill Cassidy (R-La.), Susan Collins (R-Maine), John Cornyn (R-Texas), Tom Cotton (R-Ark.), Ted Cruz (R-Texas), Steve Daines (R-Mont.), Joni Ernst (R-Iowa), Lindsey Graham (R-S.C.), Chuck Grassley (R-Iowa), Bill Hagerty (R-Tenn.), John Hoeven (R-N.D.), Ron Johnson (R-Wis.), John Kennedy (R-La.), James Lankford (R-Okla.), Cynthia Lummis (R-Wyo.), Roger Marshall (R-Kan.), Jerry Moran (R-Kan.), Rand Paul (R-Ky.), James Risch (R-Idaho), Mike Rounds (R-S.D.), Rick Scott (R-Fla.), John Thune (R-S.D.), JD Vance (R-Ohio), Roger Wicker (R-Miss.), and Todd Young (R-Ind.).
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