Either the Biden Administration has really bad lawyers, or they are blantantly disregarding the law once again (there seems to be a lot of that lately). We’re going to assume the later as the President Of The United States quite often surrounds himself with the best legal teams money can provide, and we’re pretty sure they know exactly what’s legal and what’s not.
In response to Biden’s recent act of tyrannical overreach, multiple GOP-led states are refusing to comply with demands to force banks to hand over transaction data over $600 to the IRS. West Virginia, Nebraska, Missouri and Arkansas have all spoken out against the proposal.
Missouri state treasurer Scott Fitzpatrick asserted, “I will stand up to this government overreach and protect the privacy of those account holders.”
“Turning over their transaction data to the federal government is illegal under Missouri law and a gross violation of Missourians’ expectation of privacy when it comes to their personal financial records,” he continued.
“I will not turn this information over to the IRS voluntarily and will fight in court to block any attempt by the federal government to compel my office to comply with this mandate.”
West Virginia state treasurer Riley Moore explained, “The impact this is going to have on community banks, this is like Dodd Frank on steroids. In terms of compliance, a community bank, to be able to be in compliance, to set that type of regime up is just going to put them out of business.” Moore concluded…
“The $600 requirement is absolutely unconstitutional. It’s a massive invasion of privacy; it’s huge government overreach. I don’t think any state should comply with this.”