Murphy Takes Action to Block Aggressive IRS Monitoring Scheme

WASHINGTON, D.C. — Today, Rep. Greg Murphy, M.D. (NC-03) co-sponsored H.R. 5586 – the Prohibiting IRS Financial Surveillance Act to block the implementation of a new unconstitutional surveillance scheme from Washington Democrats that would allow the Internal Revenue Service (IRS) to monitor private bank account transactions that exceed $600. The legislation does not apply to an existing law that requires banks to report any transactions over $10,000 to the Financial Crimes Enforcement Network.

Rep. Murphy released the following statement:

"I have been hearing from constituents across Eastern North Carolina who are outraged about the Biden Administration's attempt to give the IRS the power to monitor private bank transactions above $600," said Murphy. "This egregious invasion of privacy makes the taxpayer guilty until proven innocent, and I will not stand by as this Administration tries to impose a broad, unconstitutional surveillance scheme on the American people. I am proud to support the Prohibiting IRS Financial Surveillance Act to protect taxpayers from intrusive monitoring and put a stop to unlawful government overreach."

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