Congressman Guest Cosponsors Bill to Protect American Bank Accounts from Government Surveillance

October 12, 2021
Press Release

Washington, D.C.  – Congressman Michael Guest (MS-03) has cosponsored Congresswoman Ashley Hinson’s (IA-01) bill H.R. 5451 – The Protecting Financial Privacy Act. The bill would “prohibit any Federal agency from requiring financial institutions to report on the financial transactions of their customers.”

“The White House plan to review American bank accounts is an invasion of privacy, increases the risk of data breaches, & creates an immense reporting burden on financial institutions. There is no reason that justifies a government surveillance program that allows the IRS to monitor and track the bank transactions of Americans. The passage of this bill would secure the privacy of U.S. citizens from this potential government overreach,” Guest said.

The bill aims to prevent the Biden Administration from implementing the Internal Revenue Service (IRS) bank reporting proposal that would allow the IRS to collect data on transactions over $600. Opponents are concerned that such a breach of privacy would be susceptible to breaches, as the IRS is a primary target of cyber-attack, and others question the right of the federal government to collect such data on American citizens regardless of its use or security.

Congressman Michael Guest represents Mississippi's Third Congressional District. Currently serving his second term, Congressman Guest serves as the Vice Ranking Member of the Committee on Homeland Security, as a Member of the Committee on Transportation and Infrastructure, and as a Member of the Committee on Ethics.

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