Texas Bankers Launch Statewide Campaign to Oppose IRS Surveillance in Congressional Reconciliation Bill

AUSTIN, September 21, 2021 – Texas Bankers launch statewide campaign to oppose IRS Surveillance in Congressional Reconciliation Bill 

The Texas Bankers Association (TBA) today launched a statewide radio effort to encourage Texans to contact their Member of Congress to oppose a controversial tax policy from being inserted into the Reconciliation spending bill that would force banks and other financial institutions to report all consumer transactions over $600 annually to the IRS.

“We’re getting the word out that this forced collection of consumer financial information by the IRS will treat almost every American as a tax cheat without probable cause,” said TBA President and CEO Chris Furlow. “Texas banks respect the privacy of our individual and small business customers and oppose this over-reach by the IRS.”

The radio campaign includes the Dallas/Ft. Worth, Houston, Rio Grande Valley, and San Antonio markets. The ads encourage Texans to contact their Member of Congress and urge them to oppose IRS surveillance in the Reconciliation bill.

The text of the 30-second radio message is as follows:

“Congress is debating a massive spending bill. To pay for it, the IRS wants the power to force banks to annually report on individual and business transactions of $600 or more. The IRS says they’re after tax cheats. But this provision makes most Americans a suspect. Texas banks value customer privacy rights and oppose this proposal. Call your Member of Congress today. Tell them no IRS surveillance in the Reconciliation bill. Paid for by the Texas Bankers Association.”

Founded in 1885, the Texas Bankers Association (TBA) is the oldest and largest state banking association in the United States. TBA advocates for its more than 400 member banks in Austin and Washington; trains more than 10,000 community bankers annually; provides nationally-recognized banking products and services; and proudly invests in Texas communities through financial literacy, scholarship and charitable activities.