Scott, Colleagues Introduce Bill to Block IRS Snooping Proposal

A bill from Sen. Tim Scott (R-S.C.) Thursday that would prohibit implementation of increased financial institution reporting to the Internal Revenue Service (IRS), the Prohibiting IRS Financial Surveillance Act. A House companion bill was introduced earlier this week by Rep. Drew Ferguson (R-Ga.).

“The Democrats’ plan to allow the IRS to spy on the bank accounts of nearly every person in this country, even those below the poverty line, should be deeply concerning to anyone who values privacy and economic inclusion,” said Sen. Tim Scott. “Of the more than 7 million American households that are currently unbanked, the majority are low-income, rural, and minority Americans. Implementing the Biden reporting scheme will disproportionately harm those who need greater access to our financial institutions and people living paycheck to paycheck. My colleagues and I will not stop fighting the Democrats’ wrong-headed proposal to implement more federal government intrusion into our lives.”

Learn more

Read the bill