WASHINGTON – At the weekly Republican leadership press conference Tuesday, U.S. Senator Roy Blunt (Mo.) blasted Democrats’ plan to spy on the bank accounts of nearly every American to help pay for their reckless tax-and-spend spree. As Blunt noted, the $10,000 threshold for account activity would impact anyone who deposits or spends an average of just $27.42 a day.
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Following Are Blunt’s Remarks:
“Well, one of the ways that Democrats want to pay for this spending bill is to put more money at the IRS to collect more money from American families.
“You know, there’s always been an effort to find out where there might be wrongdoing, sort of a dragnet through the banking process to find out if there’s a transactionof $10,000 or more.
“This time, the Democrats started out saying, ‘well, we really think we ought to know about every transaction that was $600 or more.’
“There was a pretty big push back on that, so the latest version of this was, ‘well, we want to check every account—every bank account, every credit union account, everyPayPal account, every Venmo account—that has a total annually of $10,000 of activity.
“So $10,000 of activity is every person that makes $834 a month and puts it in the bank or every person that spends $27.42 a day through their bank account.
“Those are the accounts that would be reported to the IRS that you should look at these accounts because here’s how much money came in and here’s how much money went out, not in one transaction but over 12 months.”