Biden admin IRS bank access proposal a ‘truly dumb idea’: Rep. Kustoff
David Kustoff, R-Tenn., weighs in on the proposed Biden administration Internal Revenue Service snooping rule.
Rep. Kustoff, R-Tenn., argued on "Mornings with Maria" Monday that a Biden administration proposal to hand Americans' bank access over to the Internal Revenue Service is "absolutely ridiculous" and a "gross invasion of privacy." Kustoff went on to note "we don't want the IRS looking at bank accounts of $600."
REP. KUSTOFF: "So, Maria, Janet Yellen testified in our committee, the Financial Services Committee, last week, and I asked her about it because what their plan is is exactly what you said to essentially audit every single account where there's a $600 transaction. They anticipate, I mean, the reason they're doing it, number one is to increase the number of IRS agents and IRS audits.
NEBRASKA LEADS STATES ON BIDEN'S IRS SNOOP: 'NOT GOING TO COMPLY'
And they think that it would raise $460 billion in 10 years. Now, you know, you think about all the issues there, the gross invasion of privacy. I don't know how the banks, especially smaller community banks, comply with that. To me, it's a truly dumb idea. I tried to really press Janet Yellen on that. We'll see if she got the message. But right now, that is still in the plan.
It is absolutely ridiculous. And it's a it's a huge invasion in all of our privacies. We don't want the IRS looking at bank accounts of $600."
WATCH THE FULL INTERVIEW HERE:
Biden handing IRS bank account access would be ‘huge invason of privacy’: Rep. Kustoff
Rep. David Kustoff, R-Tenn., argues ‘we don’t want’ the Internal Revenue Service looking at bank accounts over $600.
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