Congresswoman Tenney Cosponsors Bill to Rein in IRS Financial Surveillance Powers

Washington, DC – Congresswoman Claudia Tenney (NY-24), a member of the House Ways and Means Committee, recently cosponsored H.R. 1010, the Prohibiting IRS Financial Surveillance Act. This bill bans the Internal Revenue Service (IRS) from implementing any new overreaching reporting requirements for banks and other financial institutions as part of the Biden administration's aggressive expansion of bank surveillance. 

As part of its “Build Back Better” plan, the Biden administration proposed implementing a surveillance program requiring 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. Strong concerns have been raised regarding how this program may erode individual privacy and expand the surveillance powers of the IRS. Further, the IRS’s ability to safeguard private bank account information has also been called into question along with the undue burdens the policies would place on families and small businesses.

The legislation was introduced in the House by Congressman Drew Ferguson (GA-3). A Senate companion bill was introduced by U.S. Senator Tim Scott (R-SC).

“The Biden administration’s proposed bank surveillance program threatens the security and privacy of the American people’s financial information,” said Congresswoman Claudia Tenney. “Americans opposed President Biden’s plan to hire 87,000 new IRS Agents, and they are against any additional overreach by the IRS. I am honored to join this essential piece of legislation to rein in the bureaucracy and prevent federal agencies from accruing even more unchecked power over our lives and livelihoods.”

“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 Congressman Drew Ferguson. “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 Democrat’s intent to weaponize the IRS is crystal clear and this important legislation stops this radical, big-government overreach.”

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