Press Releases

Hern condemns Pelosi’s announcement of overreaching IRS reporting requirements

Representative Kevin Hern (OK-01) released the following statement after Speaker Nancy Pelosi confirmed she plans to add provisions to the socialist spending package requiring private financial institutions to report transaction-level data on the inflow and outflow of any bank accounts over $600. 

“We spent over 40 hours marking up the radical reconciliation bill in the Ways and Means Committee, but it was all a waste of time,” said Rep. Hern. “Pelosi never intended to keep the bill that made it out of committee; every day, it seems, she announces new additions to the already-untenable socialist plan. Today, she confirmed millions of Americans’ worst fears and announced the creation of a surveillance state monitoring the financial transactions of American families. This is the number one issue Oklahomans are contacting me about. This overreach is unprecedented and wholly unacceptable. The American people will no longer tolerate Pelosi and Biden’s willful ignorance to the needs of working-class families.”

Rep. Hern previously joined Rep. Tom Emmer (MN-06) on a letter to Democrat leadership raising concerns about the reporting requirements. Rep. Hern also joined Republican members of the House Committee on Ways and Means as a cosponsor of legislation to prevent such requirements from being put in place.