ICBA expressed support for a Senate companion bill to block the widely opposed IRS reporting proposal.
Legislation: Introduced by Sen. Tim Scott (R-S.C.), the legislation would bar the Treasury Department from requiring financial institutions to report the inflows and outflows of account funds. Rep. Drew Ferguson (R-Ga.) introduced the House version last week.
More: Separate legislation from Sen. Mike Crapo (R-Idaho) and Rep. Kevin Brady (R-Texas) targeting the proposal includes a similar provision.
Call Alerts: ICBA continues urging community bankers and consumers to call their members of Congress in opposition to the IRS plan.