Ordinary Guy
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- Jul 16, 2021
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The state of Nebraska is saying a big "no" to the Biden administration's plan that would give the Internal Revenue Service big government surveillance power over every day American’s bank accounts.
"My message is really simple. The people of Nebraska entrusted me to protect the privacy of these accounts and I am not going to comply with this. If the Biden administration sues me, we will take it all the way to the Supreme Court. We are going to fight every step of the way," State Treasurer John Murante told FOX Business in an exclusive interview.
The proposal, which is roughly $79 billion of the $3.5 trillion spending bill, would give the IRS more muscle to force banks to report customers' account inflows and outflows of $600 or more to the IRS. The White House has estimated the policy, which would apply to bank, loan and investment accounts, could generate about $463 billion in additional revenue over the next decade.
Murante believes other state treasurers will follow his opposition lead. "We have members across the country who are committed to limited government and free market approaches, and we are unanimously against this proposal. It is an invasion of privacy and lacks any due process," he stated.
Nebraska leads states on Biden’s IRS snoop: ‘Not going to comply’
"My message is really simple. The people of Nebraska entrusted me to protect the privacy of these accounts and I am not going to comply with this. If the Biden administration sues me, we will take it all the way to the Supreme Court. We are going to fight every step of the way," State Treasurer John Murante told FOX Business in an exclusive interview.
The proposal, which is roughly $79 billion of the $3.5 trillion spending bill, would give the IRS more muscle to force banks to report customers' account inflows and outflows of $600 or more to the IRS. The White House has estimated the policy, which would apply to bank, loan and investment accounts, could generate about $463 billion in additional revenue over the next decade.
Murante believes other state treasurers will follow his opposition lead. "We have members across the country who are committed to limited government and free market approaches, and we are unanimously against this proposal. It is an invasion of privacy and lacks any due process," he stated.
Nebraska leads states on Biden’s IRS snoop: ‘Not going to comply’
