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Prohibiting IRS Financial Surveillance Act

12/30/2022, 7:48 AM

Congressional Summary of S 3056

Prohibiting IRS Financial Surveillance Act

This bill prohibits the Department of the Treasury from requiring a financial institution to report the balances, transactions, or the transfers into and out of a financial account. This prohibition does not apply to laws or regulations in effect on the date of enactment.

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Current Status of Bill S 3056

Bill S 3056 is currently in the status of Bill Introduced since October 21, 2021. Bill S 3056 was introduced during Congress 117 and was introduced to the Senate on October 21, 2021.  Bill S 3056's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of October 21, 2021

Bipartisan Support of Bill S 3056

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
49
Democrat Cosponsors
0
Republican Cosponsors
49
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 3056

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill S 3056

Prohibiting IRS Financial Surveillance Act
Prohibiting IRS Financial Surveillance Act
A bill to prohibit the implementation of new requirements to report bank account deposits and withdrawals.

Comments

Sponsors and Cosponsors of S 3056

Tim Scott
Tim Scott
South CarolinaRepublican
Todd Young
Todd Young
IndianaRepublican
Roger F. Wicker
Roger F. Wicker
MississippiRepublican
Thom Tillis
Thom Tillis
North CarolinaRepublican
Patrick J. Toomey
Patrick J. Toomey
PennsylvaniaRepublican
Tommy Tuberville
Tommy Tuberville
AlabamaRepublican

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