Press Releases

WASHINGTON - Rep. Estes (R-Kansas) cosponsored H.R. 1010, the Prohibiting IRS Financial Surveillance Act, with House Ways and Means colleagues. This legislation bans the Internal Revenue Service (IRS) from executing new reporting requirements for banks or other financial institutions as part of the Biden administration's aggressive bank surveillance.

"Democrats have weaponized the IRS to go after hardworking taxpayers and small businesses with opposing views," said Rep. Ron Estes. "Now the Biden administration has created an army of 87,000 new IRS agents that can snoop through your personal finances. Prohibiting the expansion of the unchecked powers of the IRS will protect Main Street workers and working families."

"For the past two years, the Biden administration and Congressional Democrats have worked to inflate the unchecked power of the IRS by implementing a broad financial surveillance regime – putting the financial information of millions of Americans at risk," said Rep. Drew Ferguson (R-Georgia), lead sponsor of H.R. 1010. "This surveillance is an invasion of privacy and it's in every American's best interest that we protect their private financial information. By hiring 87,000 new agents to harass and audit thousands of hardworking families, farmers, and small businesses without probable cause, the Democrats' intent to weaponize the IRS is crystal clear and this important legislation stops this radical, big-government overreach."

Background:

The Biden administration has supercharged the IRS with an army of nearly 87,000 new agents. As part of Build Back Better agenda, the administration has given the IRS the power to require banks and other financial institutions to provide the IRS details on their customers and data for accounts with deposits or withdrawals worth more than $600.