Pro-GOP group targets vulnerable House Democrats over push to allow IRS ‘snooping in your bank account’

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American Action Network ad spotlights Democrats’ plan to force banks to hand over account information to the IRS

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Unique: An outside group that supports conservative causes is targeting a potentially vulnerable House Democrat with a new ad that draws heavy criticism. Proposal to force banks to report account transactions to the Internal Revenue Service (IRS).

The American Action Network (AAN) ad, previously shared with Granthshala News on Thursday, is now running in the First Congressional District of New Hampshire, a long-standing congressional battleground where a two-term U.S. Democratic Rep. Chris Pappas could face a challenging reelection in the next year. middle term.

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Pelosi wants the government to spy on nearly every American bank account in search of new money to spend. Your deposit, payment, bank balance. Under Pelosi’s plan, the government keeps track of them,” narrator on occasion claims. “Call Chris Pappas. Tell him to stop Pelosi’s spending spree.”

Top Senate Republicans Target Democrats’ IRS Proposal

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AAN told Granthshala News that they are spending $300,000 to run ads on TV and digital starting Thursday. The ad is part of a $4.5 million ad across 16 congressional districts that the group launched earlier this week. The new ad campaign takes aim at massive social spending and human infrastructure packages. Congressional Democrats – who hold a small majority in both the House and Senate – passed along party lines using a parliamentary process known as reconciliation. trying to do.

AAN highlights that it has spent a total of $20 million so far this year to target the Democrats’ spending package, which the party is attempting to pass with an infrastructure bill that will take the Senate in August. Through bipartisan support.

The IRS provision is included in the spending package, and will help pay for the social policy and climate change elements detailed in the overall bill. Banks will be required to hand over data to the IRS on accounts with total annual deposits or withdrawals of more than $10,000. Reporting requirements will not include payroll deposits for wage and wage earners or for beneficiaries of federal programs such as Social Security.

Republicans push back on Yellen’s argument that the $600 reporting requirement is targeted at rich tax cheats

The original limit was even lower – for accounts over $600 – but Democrats raised the reporting level significantly after outrage from congressional Republicans and a steady lobbying campaign by the banking industry. Critics argue that the move would be an invasion of government access and privacy.

Treasury Secretary Janet Yellen backed the plan, saying it was “seriously misrepresented” by opponents and that it “contains no reporting of individual transactions.” And congressional Democrats, defending the proposal, insist that it cracks down on rich tax fraud.

But internal polling conducted by the AAN this autumn suggested the IRS’s proposal was highly unpopular in swing congressional districts.

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AAN’s communications director Calvin Moore told Granthshala News that “If Pelosi’s plan was only about cracking down on tax-evading billionaires, why would they go with $600 or $10,000 in the name of Americans?”

AAN says they will start running this ad in other Congress districts early next week.


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