President Joe Biden’s administration recently unveiled a proposal that would allow the Internal Revenue Service (IRS) to gain access to virtually every working American’s financial information by requiring financial institutions to report account data to the IRS for anyone whose transactions total at least $10,000 over the course of one year. In response, this week U.S. Senator Josh Hawley (R-Mo.) and 46 of his colleagues cosponsored Tim Scott’s (R-S.C.) “Prohibiting IRS Financial...

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