ICBA continues IRS push in congressional roundtable

ICBA continued pushing back against the IRS reporting proposal during testimony at a House Financial Services Committee Republican roundtable.

Roundtable: Wm. Jack Riddle, president of Community Bank Delaware in Lewes, told the committee that ICBA continues working to ensure the IRS plan is not added back to the reconciliation package after it was recently left out of the framework guiding Democratic discussions.

Ongoing Efforts: Reuters reported last week that Treasury and Sens. Tom Carper (D-Del.), Angus King (I-Maine), and Mark Warner (D-Va.) are pressing to include the IRS reporting plan in the Senate’s version of the spending bill—illustrating its continued threat.

IRS Grassroots: Community bankers can continue calling their members of Congress and rallying consumers in opposition to the proposal, which remains a threat even though policymakers left it out of the draft budget reconciliation framework.

Tax Hikes: Meanwhile, ICBA continues encouraging community bankers to use its Be Heard resource center to speak out against numerous tax increases included in the budget reconciliation bill’s draft framework.