Crist Calls on Senate to Keep IRS Out of Americans' Bank Accounts

Washington, DC – As the Senate moves to consider the House-passed Build Back Better Act, U.S. Representative Charlie Crist (D-St. Petersburg) sent a letter asking the Senate Finance Committee Chairman Ron Wyden (D-OR) and Ranking Member Mike Crapo (R-ID) to avoid adding the divisive IRS account reporting requirements into the package.

“As Florida families are feeling the burden of higher prices for gas and other goods, they're counting on Congress to pass the Build Back Better Act to lower costs and support families. The last thing anyone needs is for the IRS to be keeping an eye on their checking account,” said Rep. Crist. “I'm calling on the Senate to advance Build Back Better without the unpopular IRS provision so families can keep their Child Tax Cut and rooftop solar will be cheaper for the middle class. We need to get the job done to invest in lowering costs, create jobs, and fight climate change. The IRS reporting provision would threaten this critical progress. This is not about right versus left. This is right versus wrong.”

Congressman Crist successfully advocated for excluding the IRS reporting proposal from the House-passed Build Back Better Act, keeping the IRS out of Americans' bank accounts. He was the first Democrat to publicly oppose the IRS reporting proposal. Congressman Crist is an ongoing advocate for the restoration of the solar Investment Tax Credit, having first introduced a ten-year extension of the credit through his Sunshine Forever Act. Lastly, Congressman Crist has been an avid supporter for the extended Child Tax Credit, calling for it to be made permanent, and lauding the Build Back Better agenda for making refundability permanent to give 35 million households a tax cut of up to $300 per child per month.

A PDF of the letter can be found here, with full text appearing below:

                                                         November 23, 2021

The Honorable Ron Wyden                                                    The Honorable Mike Crapo     
Chairman                                                                                Ranking Member                           
Senate Committee on Finance                                                Senate Committee on Finance
219 Dirksen Senate Office Building                                      219 Dirksen Senate Office Building
Washington, DC 20510                                                          Washington, DC 20510 

 

Dear Chairman Wyden and Ranking Member Crapo:

As you undertake the critical work advancing the Build Back Better Act, I ask that you avoid adding divisive IRS account reporting requirements to the package.  I strongly support President Biden’s efforts to increase tax compliance and that the wealthiest 1% of Americans pay their fair share, but granting the IRS unprecedented access to bank accounts is not the path forward.  The American public, tax policy experts, financial institutions, and state legislatures have lined up to oppose including this new policy in the House version of the bill.[1] All share a concern that this policy is too broad and will likely disadvantage small businesses, community banks and working families – those most vulnerable as the economy strives to rebound from the COVID-19 pandemic. 

As you know, the House-passed bill includes critical provisions of the President’s Build Back Better agenda, including extending the Child Tax Credit and essential investments fighting climate change and creating jobs.  The one year expanded Child Tax Credit and permanent refundability will lift up more than 35 million American households, supporting families and cutting child poverty in half.  The bill would also restore the solar Investment Tax Credit (ITC) to 30% and extend it through the end of 2031, putting clean, affordable, rooftop solar within reach for so many middle class families – something I have long-advocated for!  There is much to celebrate in this historic legislation, and I fear these accomplishments would be jeopardized by inclusion of a new tax policy that faced bi-partisan rejection in the House.  

The American people are depending on us to get this done.  And we will get this done!  Thank you for consideration of my request.

Sincerely,

Charlie Crist

UNITED STATES CONGRESSMAN

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