Manchin Says Biden’s Plan to Let IRS Snoop on Bank Transactions Will Not End up in Final Spending Bill
Democrat Senator Joe Manchin (WV) on Tuesday said Biden’s plan to allow the IRS to snoop on bank transactions will not end up in the final spending bill.
Manchin made the remarks at The Economic Club of Washington, DC.
“I said, ‘Do you understand how messed up that is to think that Uncle Sam’s going to be watching,’” Manchin said of what he told Joe Biden. “I told him…. this cannot happen, this is screwed up.”
Manchin clarified his remarks to a Bloomberg reporter later Tuesday.
“No one should be in anyone’s bank account,” he said.
BANK REPORTING : @Sen_JoeManchin clarifies to me he opposed bank reporting no matter what the threshold. “No one should be in anyones bank account “
— Erik Wasson (@elwasson) October 26, 2021
The original proposed plan was to snoop on transactions of $600 or more to catch those pesky billionaires trying to evade taxes.
Because billionaires move money around in $600 increments.
After public backlash, the Democrats changed their plan to require banks report total amounts of money coming and going out of accounts that exceed $10,000.
Nebraska became the first state saying that they will not comply with the Biden administration’s plan to allow the IRS to view any transactions a person makes a transaction over $600.
Last month Nebraska State Treasurer John Murante said that they will not comply and if the administration sues he will take it all the way to the Supreme Court.
Murante, along with the treasurers and auditors for 24 other states, recently sent Joe Biden a letter opposing the proposed plan.
“As State Treasurer, I have an obligation to safeguard the personal information of hundreds of thousands of these accounts and it’s absolutely wrong to ask American citizens who haven’t even been accused of wrongdoing to turn over their private bank information to the federal government. There’s no excuse for it,” Murante said.
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