Manchin: IRS bank reporting proposal dropped from budget bill
Removing the provision would poke another roughly $250 billion revenue hole in the bill's offsets
The Treasury Department initially proposed reporting on all accounts with at least $600 flowing through them. That threshold was later raised to $10,000 on top of wages, salaries and federal benefits after a storm of protests from business and banking interests...
But Manchin said even a $10,000 threshold would be too intrusive. And business and banking groups echoed that view in a letter to Biden this week.
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Another victory for sanity! In my estimation there are only three prominent Democrats who have any sanity, Joe Manchin, Kristen Senima (sp?) and Lt. Col. Gabbard.
FuzzyMarineVet
Level 8
Oct 26, 2021
0
It's only temporary.
@ScottforKing I hope it lasts, but the pressure to conform is building.
@FuzzyMarineVet I do see bits of change, nibbles around the edges of insanity. Perhaps we may be witnesses to a renaissance.
@ScottforKing As I was saying, Timmy is growing up.
@FuzzyMarineVet Timmy?
@ScottforKing He's still a kid to me, so the diminutive fits.
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