The Democrats said the proposal could create a 'significant burden and potential unintended consequences.'
in the House of Representatives called for a proposal for the Internal Revenue Service to monitor Americans' bank accounts to be withdrawn.and Representative Richard Neal, chairman of the House Ways and Means Committee.
The representatives wrote to Pelosi and Neal to"express our concern" about the plan, which is intended to be included in the proposed $3.5 trillion Build Back Better Act. "We have little information about how the IRS plans to protect or use this massive trove of data. Americans expect their bank or credit union to safeguard their financial information. This proposal would erode trust in financial services providers," they said.
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