Job Creators Network Slams Biden Administration Over IRS Attack on Small Businesses

Washington, DC (October 1, 2021) – As part of President Biden’s expansion of the IRS in both funding and power, a new proposal would require banks to turn over the bank account information of all accounts holding more than $600 to the IRS.

Alfredo Ortiz, president and CEO of the Job Creators Network, released the following statement: 

“The Biden administration proposal that would empower the IRS to track all bank accounts – business and personal – of $600 and above is an assault on privacy and a direct attack on community banks, all of which are small businesses.  Aside from forcing small community banks to betray the trust and privacy of their loyal customers, this would also bring added costs as the accounts of nearly every adult customer and business would need to be monitored, tracked and reported.  Biden already plans to beef up the IRS by $80 billion, hoping to squeeze small businesses for every dollar he can, there’s no reason to assume this proposal won’t be used for the same purpose.”