H.R. 5586 - Prohibiting IRS Financial Surveillance Act

117TH CONGRESS
1ST SESSION

H.R. 5586

To prohibit the implementation of new requirements to report bank account deposits and withdrawals.

IN THE HOUSE OF REPRESENTATIVES

Mr. Ferguson (for himself, Mr. Brady, Mr. Nunes, Mr. Buchanan, Mr. Smith of Nebraska, Mr. Reed, Mr. Kelly of Pennsylvania, Mr. Smith of Missouri, Mr. Rice of South Carolina, Mr. Schweikert, Mrs. Walorski, Mr. LaHood, Mr. Wenstrup, Mr. Arrington, Mr. Estes, Mr. Smucker, Mr. Hern, Mrs. Miller of West Virginia, Mr. Williams of Texas, Mrs. Steel, Mr. Rouzer, Mrs. Wagner, Mr. Bilirakis, Mr. Hice of Georgia, Mr. Gibbs, Mr. Pence, Mr. Perry, Mr. Austin Scott of Georgia, Mr. Rogers of Alabama, Mr. Latta, Mr. Steil, Mrs. Miller-Meeks, Mr. Sessions, Ms. Mace, Mr. Roy, Mr. Van Drew, Mr. Babin, Mr. Mooney, Mr. Johnson of South Dakota, Mr. Timmons, Mr. Carter of Georgia, Mr. Crawford, Mr. Dunn, Mr. Wilson of South Carolina, Mr. McClintock, Mrs. Harshbarger, Mr. Bacon, Mr. Emmer, Mr. Budd, Mr. LaTurner, Ms. Cheney, Mr. McKinley, Ms. Stefanik, Mr. Huizenga, Mr. Clyde, Mr. Moore of Alabama, Mr. Steube, Mr. Kustoff, Mr. Guest, Mrs. Cammack, Mr. Mann, Mr. Stauber, Mr. Burchett, Mr. Lamborn, Mrs. Bice of Oklahoma, Mr. Guthrie, Mr. Bishop of North Carolina, Mr. Baird, Mr. Allen, Mr. Wittman, Mr. Reschenthaler, Mr. Banks, Mr. Luetkemeyer, Mr. Garbarino, Mr. Jackson, Mr. Grothman, Mr. Balderson, Mr. Comer, Ms. Salazar, Mr. Keller, Mr. Taylor, Ms. Herrell, Mr. Fulcher, Mr. Webster of Florida, Mr. Duncan, Mr. Posey, Mr. Bergman, Mr. Pfluger, Mr. Cole, Mr. Graves of Missouri, and Ms. Van Duyne) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To prohibit the implementation of new requirements to report bank account deposits and withdrawals.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the "Prohibiting IRS Financial Surveillance Act".

SEC. 2. PROHIBITION ON NEW REQUIREMENTS TO REPORT BANK ACCOUNT DEPOSITS AND WITHDRAWALS.

The Secretary of the Treasury (including any delegate of the Secretary) may not require any financial institution to report the inflows or outflows (or any similar amount, whether on a transaction or aggregate basis) of any account maintained by such institution, except to the extent that such reporting is required under any program, or other provision of law, as in effect on the date of the enactment of this Act.