Rep. Ashley Hinson introduces bill to counter Democrats’ reconciliation package

Published: Oct. 1, 2021 at 8:44 AM CDT
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CEDAR RAPIDS, Iowa (KCRG) - Iowa First District Congresswoman Ashley Hinson is introducing a bill that would block Democrats’ $600 transaction reporting requirement that’s in the reconciliation package.

It would require financial institutions to report deposits or withdrawals that are $600 or more. Hinson calls it an invasion of privacy.

“That’s big government at its worst,” she said. “I mean government tracking everything we’re spending money on? They don’t need to know if you’re buying a big grocery stock up trip, they don’t need to know how much you’re paying in rent. I think that’s the thing Americans value most, we value our freedom, our opportunity, and our privacy in this country.”

The treasury department says the proposal will help the IRS flag underreported income, and go after tax evaders.

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