Pelosi Backs IRS Checking Your Accounts For $600 Transactions And Up

This Tuesday, Speaker Nancy Pelosi defended a proposal to increase the amount of information financial institution reports to the IRS about bank accounts, stating that the proposal is included in the Democrats’ social-spending package.

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Pelosi commented after Republican lawmakers and banking groups increased criticism of the proposal in recent days.

“Yes, there are concerns that some people have, but if people are breaking the law and not paying their taxes, one way to track them is through the banking measure,” Pelosi said during a press conference.

The Biden admin proposed asking banks to report the IRS’s aggregate inflows and outflows of bank accounts in annual forms.

If you want to know what else Pelosi stated, watch this video. 

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