II
117th CONGRESS
1st Session
S. 3056
IN THE SENATE OF THE UNITED STATES
October 21, 2021
Mr. Scott of South Carolina (for himself, Mr. Crapo, Mr. Toomey, Mr. McConnell, Mr. Thune, Mr. Cornyn, Mr. Marshall, Mr. Tillis, Ms. Lummis, Mr. Daines, Mr. Kennedy, Mr. Moran, Mr. Cramer, Mr. Shelby, Mr. Rounds, Mr. Grassley, Mr. Burr, Mr. Barrasso, Mr. Young, Mr. Hoeven, Mrs. Hyde-Smith, Mr. Wicker, Mrs. Blackburn, Mr. Risch, Mr. Braun, Mrs. Capito, Mr. Sasse, Mr. Cotton, Ms. Ernst, Mr. Romney, Mr. Lankford, Mr. Blunt, Mr. Inhofe, Mr. Cruz, Mr. Hawley, Mr. Sullivan, Mr. Rubio, Mr. Hagerty, Mr. Scott of Florida, Mr. Tuberville, Mr. Graham, Mr. Johnson, Mr. Paul, Mr. Boozman, Mr. Lee, Ms. Collins, Mrs. Fischer, and Mr. Portman) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To prohibit the implementation of new requirements to report bank account deposits and withdrawals.
Short title
This Act may be cited as the Prohibiting IRS Financial Surveillance Act
.
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 of any account maintained by such institution; or
any balances, transactions, transfers, or similar information with respect to any such account,