With Congress working to modify its IRS reporting proposal in response to widespread opposition, ICBA and 100 other organizations pushed back against false claims from supporters of the policy.
Letter: In a joint letter to Congress, ICBA and groups such as the National Association of Realtors and International Franchise Association said the proposal would affect virtually every American with a bank account despite proposals to increase the account flow threshold.
Charge and Response: The groups also delivered a document responding to supporters’ claims that the measure is targeted and easy to implement, noting it would broadly affect taxpayers and include millions of accounts not currently subject to reporting.
Call Alert: ICBA is urging community bankers to speak out against the proposal by calling their lawmakers using an ICBA call alert and customizable script.
ICBA Campaign: Community bankers can also continue using customizable email and social media content to urge consumers to contact Congress in opposition.
Congress: The congressional debate continued with Senate Finance Committee Ranking Member Mike Crapo (R) convening a roundtable discussion in Idaho to express concerns with the IRS plan, which House Speaker Nancy Pelosi (D-Calif.) this week said Congress continues working to advance.