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Senate Democrats to Unveil Scaled-Back IRS Bank-Reporting Plan

Oct. 18, 2021, 11:39 PM

Senate Democrats are set to unveil a proposal requiring that banks report some accounts to the Internal Revenue Service in their latest effort to come up with ways to finance President Joe Biden’s economic agenda, according to an aide familiar with the plan.

Senate Finance Committee Chairman Ron Wyden and Senator Elizabeth Warren, a member of the panel, will outline the proposal on a call with reporters Tuesday afternoon, according the aide, who spoke on condition of anonymity as the plans aren’t yet public. The senators won’t release the legislative text but will publish information refuting what they ...

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