OH HCR36

Urges the 117th United States Congress to reject the Biden administration's proposal requiring financial institutions to report customer net account inflows and outflows to the Internal Revenue Service.

Opposes the proposal as an unprecedented encroachment on privacy and data mining affecting more than 100 million American citizens.

Claims the reporting requirement would increase tax preparation costs, expand unbanked populations, and devastate small banks and credit unions during economic recovery.

States Ohio will use all power and jurisdiction available to reject what it characterizes as an illegal intrusion into the private financial lives of Ohioans.

Directs the House Clerk to transmit authenticated copies of the resolution to the President, Treasury Secretary, Ohio's congressional delegation, Congressional leadership, and Ohio news media.