Key House Republican Warns Controversial IRS Proposal May Resurface

Congressional Democrats still may try to add to tax legislation a controversial plan to require credit unions and banks to report the inflows and outflows from customer accounts to the Internal Revenue Service, House Ways and Means Committee ranking Republican Kevin Brady, R-Texas, warned Tuesday. The 818-page tax bill being marked up by the Ways and Means Committee as part of the budget reconciliation process this week does not contain that proposal. “That doesn’t mean it won’t surface,” Brady told those attending the National Association of Federally-Insured Credit Unions’ Congressional Caucus. “We’ve got to make sure it doesn’t surface later.