The U.S. House of Representatives on Thursday unveiled the text of the Build Back Better Act, and it includes a provision to require banks to turn account information over to the IRS on accounts with $600 or more in annual transactions.
After months of criticizing Sens. Joe Manchin and Kyrsten Sinema for balking at the original $3.5 trillion price tag, congressional Democrats are finally accepting reality and paring President Biden’s social welfare package to between $1.5 trillion and $2 trillion over the decade.
An unusually brazen violation of the Johnson Amendment starring the second-highest official in the land. If Harris had limited her comments below to encouraging viewers to vote without specifying whom they should vote for, the churches airing the video would be within the law.
We’ve previously reported on the incredibly intrusive reporting requirement in the Build Back Better bill — requiring banks to report about any accounts that have transactions...
Financial experts are pushing back against the Biden administration's proposal to include a provision in the $3.5 trillion spending bill to extend the IRS' reach to have bank transactions over $600 reported. The Democrats’ goal is to garner $463 billion in additional personal income tax over the next decade.
