Today, Congressman John Carter (TX-31) and over 200 of his colleagues sent a letter to Treasury Secretary Janet Yellen, opposing the IRS' newest financial reporting requirements and demanding that the Treasury Department abandon the proposal in order to secure Texans' privacy and maintain the integrity of our financial institutions.

"Mandating that any banking transaction over $600 be reported to the IRS is a gross overreach of government power and Texans have made it clear that they do not want any more of their personal information being sent to the IRS. The IRS' response that they would simply raise the reporting requirement amount is unacceptable and fails to address the root of the issue: Texans' need for privacy.

“Despite overwhelming opposition to the newest IRS reporting proposal from Texans, fellow Americans, and what is now over 200 members of Congress, the Treasury Department has failed to adequately address our concerns. The Treasury's response to our letter on September 13 demonstrated just how out of touch they are with the American people, which is why my colleagues and I are demanding this proposal be abandoned altogether."

Read today's full letter HERE.

Read the September 13 letter HERE.

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