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Manchin Opposes IRS Bank Reporting Plan, Complicating Biden Talks

  • Key senator says bank data reporting plan is ‘screwed up’
  • Democrats struggle to find revenue raisers for Biden agenda
Joe Manchin
Joe ManchinPhotographer: Ting Shen/Bloomberg

Senator Joe Manchin said he opposes requiring banks to report deposits and withdrawals of some accounts to the Internal Revenue Service to help find tax cheats, complicating Democrats’ efforts to pay for President Joe Biden’s economic agenda.

“No one should be in anyone’s bank account,” the West Virginia Democrat told reporters Tuesday.