Taxpayer Data Protection Act

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Bill ID: 119/hr/1101
Last Updated: June 10, 2026

Sponsored by

Rep. Stevens, Haley M. [D-MI-11]

ID: S001215

Follow the money

The bill

Taxpayer Data Protection Act

HR. 1101, 119th Congress — read as touching Commercial Banks.

The sponsor

Rep. Stevens, Haley M. [D-MI-11]

Every bill has someone who introduced it. That name is where the paper trail starts.

The money

$84,700 raised

30 itemised contributions to this sponsor, pulled from FEC filings.

The alignment

85% match to Project 2025

This bill's text tracks the "22" section, p. 727-729 of the Mandate for Leadership.

Bill's Journey to Becoming a Law

Track this bill's progress through the legislative process

Latest Action

Sponsor introductory remarks on measure. (CR H625-626)

February 10, 2025

Introduced

📍 Current Status

Next: The bill will be reviewed by relevant committees who will debate, amend, and vote on it.

🏛️

Committee Review

🗳️

Floor Action

✅

Passed House

🏛️

Senate Review

🎉

Passed Congress

🖊️

Presidential Action

⚖️

Became Law

📚 How does a bill become a law?

1. Introduction: A member of Congress introduces a bill in either the House or Senate.

2. Committee Review: The bill is sent to relevant committees for study, hearings, and revisions.

3. Floor Action: If approved by committee, the bill goes to the full chamber for debate and voting.

4. Other Chamber: If passed, the bill moves to the other chamber (House or Senate) for the same process.

5. Conference: If both chambers pass different versions, a conference committee reconciles the differences.

6. Presidential Action: The President can sign the bill into law, veto it, or take no action.

7. Became Law: If signed (or if Congress overrides a veto), the bill becomes law!

Bill Summary

Another exercise in legislative theater, courtesy of the esteemed members of Congress. Let's dissect this farce, shall we?

**Main Purpose & Objectives:** The Taxpayer Data Protection Act (HR 1101) claims to prohibit unlawful access to the payment system of the Bureau of the Fiscal Service within the Department of the Treasury. How noble. In reality, this bill is a Band-Aid on a bullet wound, attempting to address the symptoms rather than the underlying disease: government incompetence and corruption.

**Key Provisions & Changes to Existing Law:** The bill amends Section 321 of title 31, United States Code, by adding new requirements for accessing the payment system. These include:

* Restricting access to officers, employees, or contractors with a "fully successful" performance rating (because who needs accountability?) and at least one year of service. * Requiring security clearances for non-employees (a nice little gift to the clearance industry). * Mandating training on privacy laws and cybersecurity regulations (because a few hours of PowerPoint will surely prevent data breaches).

These provisions are nothing more than a smokescreen, designed to create the illusion of action while maintaining the status quo.

**Affected Parties & Stakeholders:** The usual suspects:

* The Department of the Treasury (which will likely continue to botch its duties). * Contractors and employees with access to the payment system (who will now have to jump through more hoops to get paid). * Taxpayers (who will remain blissfully unaware of the bill's ineffectiveness).

**Potential Impact & Implications:** This bill is a classic case of "legislative placebo effect." It creates a false sense of security, while doing nothing to address the root causes of data breaches and corruption. The real impact will be:

* Increased bureaucracy and red tape for contractors and employees. * More opportunities for cronyism and favoritism in the clearance process. * A continued lack of accountability and transparency within the Department of the Treasury.

In short, this bill is a waste of time and resources, designed to pacify the gullible public while maintaining the corrupt status quo. Bravo, Congress. You've managed to create another masterpiece of legislative ineptitude.

Related Topics

Cybersecurity & Data PrivacyFederal Budget & AppropriationsExecutive Branch Oversight
Generated using Llama 3.1 70B (Dr. Haus personality)

💰 Campaign Finance Network

Rep. Stevens, Haley M. [D-MI-11]

Congress 119 • 2024 Election Cycle

Total Contributions
$84,700
25 donors
PACs
$0
Organizations
$28,600
Committees
$0
Individuals
$56,100

No PAC contributions found

1
MATCH-E-BE-NASH-SHE-WISH BAND OF POTTAWATOMI INDIANS
2 transactions
$6,600
2
EASTERN BAND OF CHEROKEE INDIANS
1 transaction
$3,300
3
NOTTAWASEPPI HURON BAND OF THE POTAWATOMI
1 transaction
$3,300
4
POKAGON BAND OF POTAWATOMI INDIANS
1 transaction
$3,300
5
SAGINAW CHIPPEWA INDIAN TRIBE
1 transaction
$3,300
6
SHAKOPEE MDEWAKANTON SIOUX COMMUNITY
2 transactions
$3,300
7
SYCUAN BAND OF THE KUMEYAAY NATION
2 transactions
$2,500
8
SAN MANUEL BAND OF MISSION INDIANS
2 transactions
$2,000
9
MORONGO BAND OF MISSION INDIANS
1 transaction
$1,000

No committee contributions found

1
TURKISH, JASON
2 transactions
$6,600
2
JARBOU, FRANK
1 transaction
$3,300
3
SACKS, CARI B.
1 transaction
$3,300
4
JARVIS-SHEAN, ELIZABETH
1 transaction
$3,300
5
BLUHM, NEIL
1 transaction
$3,300
6
SILVERSTEIN, WILLIAM
1 transaction
$3,300
7
SACKS, MICHAEL
1 transaction
$3,300
8
SHAPIRO, ANDREW
1 transaction
$3,300
9
CHERN, ERIC
1 transaction
$3,300
10
SANDBERG, SHERYL
1 transaction
$3,300
11
CHERN, LAURA
1 transaction
$3,300
12
GURAL, JEFFREY R.
1 transaction
$3,300
13
GATES, WILLIAM H. III
1 transaction
$3,300
14
BROWN, GREGORY
1 transaction
$3,300
15
WALKER, KENT
1 transaction
$3,300
16
WYETT, TODD
1 transaction
$3,300

Cosponsors & Their Campaign Finance

This bill has 10 cosponsors. Below are their top campaign contributors.

Rep. Casten, Sean [D-IL-6]

ID: C001117

Top Contributors

10

1
OTOE MISSOURIA TRIBE OF OKLAHOMA
OrganizationRED ROCK, OK
$3,300
Feb 28, 2024
2
OTOE MISSOURIA TRIBE OF OKLAHOMA
OrganizationRED ROCK, OK
$3,300
Feb 28, 2024
3
TAMELING, GRETTA A.
N/A • RETIRED
IndividualWHEATON, IL
$3,500
Jul 9, 2024
4
HUANG, CAROLINE B
N/A • NOT-EMPLOYED
IndividualBELMONT, MA
$3,300
Oct 24, 2024
5
PRICE, RICHARD S
MESIROW FINANCIAL • EXECUTIVE CHAIRMAN
IndividualHIGHLAND PARK, IL
$3,300
Oct 30, 2024
6
SIMON, DEBORAH
NOT EMPLOYED • NOT EMPLOYED
IndividualCARMEL, IN
$3,300
Nov 7, 2024
7
ABDEY, JULIAN
CAPITAL GROUP. • FINANCE
IndividualHILLSBOROUGH, CA
$3,300
Oct 7, 2023
8
ANDREAE, CHRISTINE
SELF EMPLOYED • WRITER/ARTIST
IndividualBENTONVILLE, VA
$3,300
Oct 14, 2023
9
ANDREAE, ERICA
SELF-EMPLOYED • BUSINESS OWNER
IndividualINDIANAPOLIS, IN
$3,300
Dec 9, 2023
10
ANDREAE, MORGAN
CUMMINS • ENGINEER
IndividualINDIANAPOLIS, IN
$3,300
Dec 9, 2023

Rep. Whitesides, George [D-CA-27]

ID: W000830

Top Contributors

10

1
SWING LEFT
CONDUIT TOTAL LISTED IN AGG. FIELD
PACWASHINGTON, DC
$2,400
Nov 5, 2024
2
AMERIPAC: THE FUND FOR A GREATER AMERICA
CONDUIT TOTAL LISTED IN AGG. FIELD
PACWASHINGTON, DC
$500
Oct 17, 2024
3
FEDERATED INDIANS OF GRATON RANCHERIA
OrganizationROHNERT PARK, CA
$1,000
Aug 8, 2024
4
HARRIS, WILLIAM
MASS GENERAL HOSPITAL • PHYSICIAN
IndividualLEXINGTON, MA
$5,000
Jan 25, 2024
5
HARRIS, WILLIAM
IndividualLEXINGTON, MA
$5,000
Feb 7, 2024
6
BAILEY, DAVID
KPPB LLP • PATENT ATTORNEY
IndividualLOS ANGELES, CA
$3,300
Oct 22, 2024
7
BIRMINGHAM, CYNTHIA
SELF EMPLOYED • ATTORNEY
IndividualSAN FRANCISCO, CA
$3,300
Oct 30, 2024
8
BROOKS, JAMES
GRACIE FILMS • WRITER/DIRECTOR/PRODUCER
IndividualLOS ANGELES, CA
$3,300
Oct 17, 2024
9
CLUBOK, ANDY
LATHAM & WATKINS LLP • ATTORNEY
IndividualWASHINGTON, DC
$3,300
Oct 30, 2024
10
DELANEY, QUINN
NOT EMPLOYED • RETIRED
IndividualPIEDMONT, CA
$3,300
Nov 9, 2024

Rep. Velázquez, Nydia M. [D-NY-7]

ID: V000081

Top Contributors

0

No contribution data available

Rep. Sherrill, Mikie [D-NJ-11]

ID: S001207

Top Contributors

10

1
SANZONE, MICHAEL
HSBC BANK • BANKER
IndividualGLEN RIDGE, NJ
$3,300
Nov 4, 2024
2
ST. ROMAIN, CLAUDETTE L.
SETON HALL UNIVERSITY • PROFESSOR
IndividualCHATHAM, NJ
$3,300
Oct 23, 2024
3
LUSTBERG, LAWRENCE S.
NOT EMPLOYED • NOT EMPLOYED
IndividualCHATHAM, NJ
$3,300
Oct 23, 2024
4
SLATER, FREDRIC
LRF SLATER COMPANIES, INC. • PRESIDENT
IndividualLIVINGSTON, NJ
$3,300
Oct 28, 2024
5
ST. ROMAIN, CLAUDETTE L.
SETON HALL UNIVERSITY • PROFESSOR
IndividualCHATHAM, NJ
$3,300
Oct 23, 2024
6
JOY, MARTHA
NOT EMPLOYED • NOT EMPLOYED
IndividualENGLEWOOD, FL
$3,300
Nov 3, 2024
7
CONNORS, SUSAN
NAGEL RICE, LLP • ATTORNEY
IndividualCHATHAM, NJ
$3,300
Oct 23, 2024
8
MILLER, VALERIE
NOT EMPLOYED • NOT EMPLOYED
IndividualBROOKLYN, NY
$3,300
Oct 27, 2024
9
MILLER, JOSHUA
THE BROWSER COMPANY OF NEW YORK • CEO
IndividualBROOKLYN, NY
$3,300
Oct 27, 2024
10
MINDICH, ERIC
IndividualNEW YORK, NY
$3,300
Nov 20, 2024

Rep. Moulton, Seth [D-MA-6]

ID: M001196

Top Contributors

10

1
KARLA'S MARKET
OrganizationREVERE, MA
$500
Jul 25, 2023
2
BLOOM, BRADLEY
N/A • NOT EMPLOYED
IndividualWELLESLEY, MA
$6,600
Nov 15, 2024
3
BREDENBERG, DIANE M.
N/A • NOT EMPLOYED
IndividualSOUTHLAKE, TX
$6,600
Nov 15, 2024
4
SHAH, NIRAJ
WAYFAIR • RETAIL
IndividualBOSTON, MA
$6,600
Nov 17, 2024
5
CORCORAN, JAMES
AREX CAPITAL MANAGEMENT LP • INVESTOR
IndividualNEW YORK, NY
$6,600
Nov 20, 2024
6
D'AMICO, ALEXANDER
MCKINSEY & COMPANY • CONSULTANT
IndividualNEW CANAAN, CT
$6,600
Nov 18, 2024
7
HASTINGS, MARK
PSG EQUITY • INVESTOR
IndividualBOSTON, MA
$6,600
Nov 20, 2024
8
LEDLEY, CHARLES H.
LIMINALITY CAPITAL LP • INVESTOR
IndividualBOSTON, MA
$6,600
Nov 21, 2024
9
PEELER, DAVID RANDY
BERKSHIRE PARTNERS • MANAGING DIRECTOR
IndividualCAMBRIDGE, MA
$6,600
Nov 18, 2024
10
SHORTSLEEVE, BRIAN
M33 GROWTH • VENTURE CAPITAL
IndividualWELLESLEY, MA
$6,600
Nov 21, 2024

Rep. Jacobs, Sara [D-CA-51]

ID: J000305

Top Contributors

10

1
SYCUAN BAND OF THE KUMEYAAY NATION
OrganizationEL CAJON, CA
$3,300
Jun 30, 2023
2
SAN MANUEL BAND OF MISSION INDIANS
OrganizationLOS ANGELES, CA
$3,300
Aug 28, 2023
3
SYCUAN BAND OF THE KUMEYAAY NATION
OrganizationEL CAJON, CA
$3,300
Sep 18, 2024
4
BARONA BAND OF MISSION INDIANS
OrganizationLAKESIDE, CA
$2,000
Jun 30, 2024
5
SANTA YNEZ BAND OF MISSION INDIANS
OrganizationSANTA YNEZ, CA
$1,000
Feb 14, 2023
6
MORONGO BAND OF MISSION INDIANS
OrganizationBANNING, CA
$1,000
Sep 30, 2024
7
ONEIDA NATION
OrganizationONEIDA, WI
$1,000
Sep 30, 2024
8
POARCH BAND OF CREEK INDIANS
OrganizationATMORE, AL
$1,000
Aug 5, 2024
9
JACOBS, MARA
NYC DEPARTMENT OF EDUCATION • TEACHER
IndividualBROOKLYN, NY
$4,300
Dec 14, 2023
10
HESS, LAWRENCE
LEHBROS LIMITED • REAL ESTATE
IndividualSAN DIEGO, CA
$3,300
Oct 22, 2024

Rep. Sánchez, Linda T. [D-CA-38]

ID: S001156

Top Contributors

0

No contribution data available

Rep. Adams, Alma S. [D-NC-12]

ID: A000370

Top Contributors

10

1
THE CHICKASAW NATION
OrganizationADA, OK
$1,000
Dec 14, 2023
2
HALES, CALLA
SELF EMPLOYED • MEDICAL ADMINISTRATOR
IndividualCHARLOTTE, NC
$3,825
Oct 7, 2023
3
GOCHMAN, MOLLY
NOT EMPLOYED • NOT EMPLOYED
IndividualHOUSTON, TX
$3,300
Nov 7, 2023
4
HALES, CALLA
SELF EMPLOYED • MEDICAL ADMINISTRATOR
IndividualCHARLOTTE, NC
$3,300
Aug 22, 2023
5
RUMER, ANDREW F
NOT EMPLOYED • RETIRED
IndividualSAN FRANCISCO, CA
$3,300
Aug 20, 2024
6
AULT, RICHARD
NOT EMPLOYED • RETIRED
IndividualDAVIDSON, NC
$3,300
Sep 27, 2024
7
AULT, RUTH L
NOT EMPLOYED • RETIRED
IndividualDAVIDSON, NC
$3,300
Sep 27, 2024
8
WEEKS, DEBRA
C.W. WILLIAMS COMMUNITY HEALTH CENTER • EXECUTIVE
IndividualCHARLOTTE, NC
$2,900
Mar 24, 2023
9
LEWIS, JACQUELINE
NOT EMPLOYED • NOT EMPLOYED
IndividualWASHINGTON, DC
$2,900
Mar 7, 2023
10
KEATON-BARROW, MICHELLE K
KEATON BARROW REALTY • REAL ESTATE AGENT
IndividualGARNER, NC
$2,600
Oct 10, 2023

Rep. Pallone, Frank [D-NJ-6]

ID: P000034

Top Contributors

10

1
PUYALLUP TRIBE OF INDIANS
OrganizationTACOMA, WA
$3,300
May 22, 2024
2
PUYALLUP TRIBE OF INDIANS
OrganizationTACOMA, WA
$2,900
Jun 6, 2023
3
SHAKOPEE MDEWAKANTON SIOUX COMMUNITY
OrganizationPRIOR LAKE, MN
$1,650
Jun 18, 2024
4
SHAKOPEE MDEWAKANTON SIOUX COMMUNITY
OrganizationPRIOR LAKE, MN
$1,650
Jun 1, 2023
5
CHOCTAW NATION OF OKLAHOMA
OrganizationDURANT, OK
$1,000
Oct 16, 2024
6
CHOCTAW NATION OF OKLAHOMA
OrganizationDURANT, OK
$825
Sep 29, 2023
7
HOLMDEL FUNERAL HOME
OrganizationHOLMDEL, NJ
$500
Dec 1, 2023
8
MISSISSIPPI BAND OF CHOCTAW INDIANS
OrganizationCHOCTAW, MS
$500
Dec 27, 2023
9
HIGHLANDS DEMOCRATIC CLUB
OrganizationHIGHLANDS, NJ
$500
Sep 10, 2024
10
PUYALLUP TRIBE OF INDIANS
OrganizationTACOMA, WA
$400
May 22, 2024

Rep. Frost, Maxwell [D-FL-10]

ID: F000476

Top Contributors

10

1
MORONGO BAND OF MISSION INDIANS
OrganizationBANNING, CA
$1,000
Jun 28, 2024
2
MISSISSIPPI BAND OF CHOCTAW INDIANS
OrganizationCHOCTAW, MS
$500
Sep 26, 2023
3
HULL, MEGAN
SELF EMPLOYED • ACTIVIST
IndividualWASHINGTON, DC
$3,300
Nov 17, 2024
4
HARRIS, WILLIAM
PERKINS + WILL • ARCHITECT
IndividualCAMBRIDGE, MA
$3,300
Oct 29, 2023
5
BOYLAND, DORIAN
BOYLAND AUTO ORLANDO • BUSINESS OWNER
IndividualWINDERMERE, FL
$3,300
Oct 13, 2023
6
TILLMAN, BRIAN
WINDOW WORLD • OWNER
IndividualORLANDO, FL
$3,300
Oct 20, 2023
7
PISCITELLI, JUNE
SMARTHINKING • INSTRUCTOR
IndividualFORT LAUDERDALE, FL
$3,300
Oct 6, 2023
8
WILLIAMS, TERESA
SELF EMPLOYED • MANAGEMENT CONSULTANT
IndividualWINTER PARK, FL
$3,300
Dec 2, 2023
9
HARRIS, WILLIAM
PERKINS + WILL • ARCHITECT
IndividualCAMBRIDGE, MA
$3,300
Oct 29, 2023
10
PISCITELLI, JUNE
SMARTHINKING • INSTRUCTOR
IndividualFORT LAUDERDALE, FL
$3,300
Oct 6, 2023

Donor Network - Rep. Stevens, Haley M. [D-MI-11]

PACs
Organizations
Individuals
Politicians

Hub layout: Politicians in center, donors arranged by type in rings around them.

Loading...

Showing 92 nodes and 42 connections (87 secondary connections hidden)

Total contributions: $122,300

Top Donors - Rep. Stevens, Haley M. [D-MI-11]

Showing top 25 donors by contribution amount

9 Orgs16 Individuals

Industry Impact

Which industries are materially affected by specific provisions in this bill. 2 harmed.

  • −Commercial Banksconfidence 0.80

    Section 2(e)(1) imposes restrictions on access to the payment system of the Bureau of the Fiscal Service, which may increase regulatory burden on commercial banks that interact with this system.

  • −Crypto & Fintechconfidence 0.60

    Section 2(e)(1) restricts access to payment systems, potentially affecting fintech companies that rely on these systems, including those involved in cryptocurrency transactions.

Who funds the sponsor on these industries

For each industry this bill affects, here's what the sponsor (Rep. Stevens, Haley M. [D-MI-11])received from donors associated with that industry during the 2022–present cycles. Donations are not proof of intent — they are a record of who funds the people writing the law.

Industries this bill HARMS

Project 2025 Policy Matches

This bill shows semantic similarity to the following sections of the Project 2025 policy document.AI-enhanced analysis provides detailed alignment ratings.

22

Strong
Vector: 63%
Pages: 727-729AI Enhanced

AI Analysis:

"The bill strengthens taxpayer data privacy and security within the Treasury's Bureau of the Fiscal Service, directly supporting Project 2025's tax policy principle of respecting taxpayer due process and privacy rights and ensuring proper administration of tax systems."

Key themes:taxpayer privacydata securityTreasury oversighttax administration integrityprotection of sensitive information

— 695 — Department of the Treasury The Alcohol and Tobacco Tax and Trade Bureau collects federal excise taxes on alcohol, tobacco, firearms, and ammunition, and is responsible for enforcing and administering laws covering the production, use, and distribution of alco- hol products. The Internal Revenue Service is the largest of the department’s bureaus, account- ing for about 85 percent of Treasury’s personnel and about four-fifths of its appropriated budget. It administers and enforces U.S. tax laws. The Bureau of Engraving and Printing develops and produces U.S. currency notes. The Financial Crimes Enforcement Network (FinCEN) is designed to protect the financial system from illicit use. It also administers the beneficial ownership reporting regime mandated by the Corporate Transparency Act.12 The Bureau of the Fiscal Service provides central payment services to federal program agencies, operates the U.S. government’s collections and deposit systems, provides government-wide accounting and reporting services, manages the collec- tion of delinquent debt owed to the U.S. government, borrows the money needed to operate the government through the sale of U.S. Treasury securities (including the state and local government series), and accounts for and services the public debt. The United States Mint designs and mints U.S. circulating and bullion coins. The Office of the Comptroller of the Currency (OCC) charters, regulates, and supervises national banks and federal savings associations (thrifts) to ensure that they operate in a safe and sound manner, provide fair access to financial services, and comply with applicable laws and regulations. The OCC also supervises fed- eral branches and agencies of foreign banks and has rulemaking authority for all savings associations. TAX POLICY Tax policy has a powerful impact on the economy. The Treasury Department should develop and promote tax reform legislation that will promote prosperity. To accomplish this, tax reform should improve incentives to work, save, and invest. This, in turn, is accomplished primarily by reducing marginal tax rates,13 reducing the cost of capital14 and broadening the tax base to eliminate tax-induced economic distortions by eliminating special-interest tax credits, deductions, and exclusions. Tax compliance costs will decline precipitously if the tax system is substantially simplified.15 The Treasury Department should also promote tax competition rather than supporting an international tax cartel. Principles of Good Tax Policy. These are the principles governing good tax policy. l First, the tax system should raise the revenue necessary to fund a limited government for constitutionally appropriate activities. It should raise this revenue such that it: (a) applies the least economically destructive forms of — 696 — Mandate for Leadership: The Conservative Promise taxation;16 (b) has low tax rates on a broad, neutral tax base; (c) minimizes interference with the operation of the free market and free enterprise; and (d) minimizes the cost to taxpayers of compliance with and administration of the tax system. l Second, the tax system should minimize its adverse impact on the family and the core institutions of civil society. l Third, the tax system should be applied consistently—with special privileges for none—and respect taxpayer due process and privacy rights. The current tax system is inconsistent with these principles and needs to be reformed to promote prosperity, reduce compliance costs, and improve fairness. The incoming Administration should promote immediate intermediate reforms to the existing system. It should then pursue fundamental tax reform. Intermediate Tax Reform. The Treasury should work with Congress to sim- plify the tax code by enacting a simple two-rate individual tax system of 15 percent and 30 percent that eliminates most deductions, credits and exclusions. The 30 percent bracket should begin at or near the Social Security wage base to ensure the combined income and payroll tax structure acts as a nearly flat tax on wage income beyond the standard deduction. The corporate income tax rate should be reduced to 18 percent. The corporate income tax is the most damaging tax in the U.S. tax system, and its primary economic burden falls on workers because capital is more mobile than labor.17 Capital gains and qualified dividends should be taxed at 15 percent. Thus, the combined corporate income tax combined with the capital gains or qualified dividends tax rate would be roughly equal to the top individual income tax rate.18 The system should allow immediate expensing for capital expenditures and index capital gains taxes for inflation. In addition, intermediate tax reform should repeal all tax increases that were passed as part of the Inflation Reduction Act,19 including the book minimum tax, the stock buyback excise tax, the coal excise tax, the reinstated Superfund tax, and excise taxes on drug manufacturers to compel them to comply with Medicare price controls. The next Administration should also push for legislation to fully repeal recently passed subsidies in the tax code, including the dozens of credits and tax breaks for green energy companies in Subtitle D of the Inflation Reduction Act.20 Universal Savings Accounts. All taxpayers should be allowed to contribute up to $15,000 (adjusted for inflation) of post-tax earnings into Universal Savings Accounts (USAs). The tax treatment of these accounts would be comparable to Roth IRAs. USAs should be highly flexible to allow Americans to save and invest as they see fit, including, for example, investments in a closely held business. Gains from investments in USAs would be non-taxable and could be withdrawn at any

22

Moderate
Vector: 63%
Pages: 724-726AI Enhanced

AI Analysis:

"HR 1101 aligns with Project 2025's goals of respecting privacy rights and improving financial regulation by strengthening taxpayer data protections, but it does not directly address reducing regulatory burdens or promoting economic growth."

Key themes:taxpayer privacydata securityfinancial regulationaccountability

— 691 — 22 DEPARTMENT OF THE TREASURY William L. Walton, Stephen Moore, and David R. Burton INTRODUCTION The U.S. Treasury Department has a broad regulatory and policy reach. The next Administration should make major policy changes to: (1) reduce regulatory impediments to economic growth that reduce living standards and endanger pros- perity; (2) reduce regulatory compliance costs that increase prices and cost jobs; (3) promote fiscal responsibility; (4) promote the international competitiveness of U.S. businesses; and (5) better respect the American people’s due process and privacy rights. These goals should be accomplished through: executive action (primar- ily treasury orders and treasury directives) and departmental reorganization; rulemakings; promoting constructive policies in Congress; actions in international organizations; and treaties. The primary subject matter focus of the incoming Administration’s Treasury Department should be: l Tax policy and tax administration; l Fiscal responsibility; l Improved financial regulation; l Addressing the economic and financial aspects of the geopolitical threat posed by China and other hostile countries;

Department of the Treasury

Weak
Vector: 63%
Pages: 745-747AI Enhanced

AI Analysis:

"The bill focuses on protecting taxpayer data through access controls to Treasury payment systems, while the Project 2025 Treasury section emphasizes concerns about global tax cartels, IRS expansion, financial privacy, and AML/CFT enforcement—topics not directly addressed in the bill. There is minimal thematic overlap beyond a general concern for data security."

Key themes:data protectiontaxpayer privacyfinancial security

— 713 — Department of the Treasury David R. Burton “Towards a Global Tax Cartel?” Policy, Vol. 18, No. 4 (Summer 2002–2003), Center for Independent Studies (Australia), https://www.cis.org.au/wp-content/uploads/2015/04/images/stories/policy- magazine/2002-summer/2002-18-4-david-r-burton.pdf (accessed March 19, 2023). 33. Roberts et al., “Organization for Economic Co-operation and Development (OECD).” 34. See Inflation Reduction Act, § 10301. See also Preston Brashers, “IRS and Allies Downplay 87,000-Person Hiring Binge,” The Daily Signal, August 12, 2022, https://www.dailysignal.com/2022/08/12/the-irs-and-its- allies-downplay-87000-person-hiring-binge/ (accessed March 19, 2023). 35. U.S. Department of the Treasury, General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals, May 2021, pp. 88–89, https://home.treasury.gov/system/files/131/General-Explanations-FY2022.pdf (accessed March 19. 2023). 36. See U.S. Department of the Treasury, Fiscal Year 2022–2026 Strategic Plan. 37. U.S. House of Representatives, Committee on Oversight and Reform, Policy and Supporting Positions, December 2020 (the “plumb book”), p. 127 https://www.govinfo.gov/content/pkg/GPO-PLUMBOOK-2020/ pdf/GPO-PLUMBOOK-2020.pdf (accessed March 19, 2023). 38. Internal Revenue Service, “Organization and Top Officials,” https://www.irs.gov/pub/newsroom/marketing/ internet/irs-organization-chart.pdf (accessed March 19, 2023). See also Internal Revenue Code (26 U.S. Code § 7803(a)–(b)). 39. For a summary of various GAO reports on various IRS IT problems, see Vijay A. D’Souza, “Information Technology: IRS Needs to Address Operational Challenges and Opportunities to Improve Management,” testimony before the Subcommittee on Government Operations, Committee on Oversight and Reform, U.S. House of Representatives, October 7, 2020, GAO–21–178T, https://www.gao.gov/assets/gao-21-178t. pdf (accessed March 19, 2023). Charles O. Rossotti was named IRS Commissioner by President Bill Clinton primarily so that Rossotti could address widely acknowledged IT issues. He made some improvements between 1997 and 2002, but despite large investments, he did not really resolve the IT problems at the IRS. Since that time, the problems have worsened. 40. D’Souza, “Information Technology,” figure 1, p. 5. 41. Internal Revenue Service, IRS Integrated Modernization Business Plan, April 2019, https://www.irs.gov/pub/ irs-pdf/p5336.pdf (accessed March 20, 2023). 42. See, for example, the Omnibus Taxpayers’ Bill of Rights, Public Law 100–647, Subtitle J of Title VI of the Technical and Miscellaneous Revenue Act of 1988; Taxpayer Bill of Rights 2, Public Law 104–168; IRS Restructuring and Reform Act of 1998, Public Law 105–206, Title III; Consolidated Appropriations Act, Public Law 114–113, Title IV, Subtitle A (adding Internal Revenue Code § 7803(a)(3) and other changes); and Taxpayer First Act, Public Law 116–25, Title I. 43. For a list of 68 proposed reforms, see National Taxpayer Advocate, 2022 Purple Book: Compilation of Legislative Recommendations to Strengthen Taxpayer Rights and Improve Tax Administration, December 31, 2021, https://www.taxpayeradvocate.irs.gov/wp-content/uploads/2022/01/ARC21_PurpleBook.pdf (accessed March 19, 2023). Most, though not all, of these proposals have merit. Regarding penalty reform, see Jeremiah Coder, “Achieving Meaningful Civil Tax Penalty Reform and Making It Stick,” Akron Tax Journal, Vol. 27 (2012), https://ideaexchange.uakron.edu/cgi/viewcontent.cgi?article=1153&context=akrontaxjournal (accessed March 19, 2023). 44. Internal Revenue Service, 2023 Congressional Budget Justification & Annual Performance Report and Plan, Rev. 3–2022, https://home.treasury.gov/system/files/266/Internal-Revenue-Service-FY-2023-CJ.pdf (accessed March 19, 2023). 45. Internal Revenue Service, 2021 IRS Data Book: October 1, 2020 to September 30, 2021, table 11, p. 26, https:// www.irs.gov/pub/irs-pdf/p55b.pdf (accessed March 19, 2023). 46. Ibid., 2021 IRS Data Book, table 2, p. 4. 47. Scott A. Hodge, “The Compliance Costs of IRS Regulations, Tax Foundation Fiscal Fact No. 512, June 2016 https://files.taxfoundation.org/legacy/docs/TaxFoundation_FF512.pdf (accessed March 19, 2023). 48. Organization for Economic Cooperation, The Multilateral Convention on Mutual Administrative Assistance in Tax Matters: Amended by the 2010 Protocol, https://read.oecd-ilibrary.org/taxation/the-multilateral- convention-on-mutual-administrative-assistance-in-tax-matters_9789264115606-en#page1 (accessed March 20, 2023). — 714 — Mandate for Leadership: The Conservative Promise 49. David Burton, “Two Little Known Tax Treaties Will Lead to Substantially More Identity Theft, Crime, Industrial Espionage, and Suppression of Political Dissidents,” Heritage Foundation Backgrounder No. 3087, December 21, 2015 file:///C:/Users/DRBar/Downloads/BG3087-3.pdf. 50. U.S. Department of the Treasury, “CFIUS Enforcement and Penalty Guidelines,” https://home.treasury. gov/policy-issues/international/the-committee-on-foreign-investment-in-the-united-states-cfius/cfius- enforcement-and-penalty-guidelines (accessed March 20, 2023). 51. John S. McCain National Defense Authorization Act for Fiscal Year 2019, Public Law 115–232. Title XVII, https:// home.treasury.gov/sites/default/files/2018-08/The-Foreign-Investment-Risk-Review-Modernization-Act-of- 2018-FIRRMA_0.pdf (accessed March 20, 2023). 52. Dodd–Frank Wall Street Reform and Consumer Protection Act, Public Law 111–203. 53. Peter J. Wallison, “Title I and the Financial Stability Oversight Council,” in Norbert Michel, ed., The Case Against Dodd–Frank: How the “Consumer Protection” Law Endangers Americans, https://www.heritage.org/ government-regulation/report/the-case-against-dodd-frank-how-the-consumer-protection-law-endangers. 54. Norbert J. Michel, “Fixing the Dodd–Frank Derivatives Mess: Repealing Titles VII and VIII,” in Norbert Michel, ed., The Case Against Dodd–Frank: How the “Consumer Protection” Law Endangers Americans, Heritage Foundation, https://www.heritage.org/government-regulation/report/the-case-against-dodd-frank-how-the- consumer-protection-law-endangers. 55. Paul Kupiec, “Title II: Is Orderly Liquidation Authority Necessary to Fix ‘Too Big to Fail’?” in Michel, The Case Against Dodd–Frank. 56. Norbert J. Michel, “Money and Banking Provisions in the Financial CHOICE Act: A Major Step in the Right Direction,” in Prosperity Unleashed: Smarter Financial Regulation (Washington, DC: The Heritage Foundation, 2017), https://www.heritage.org/prosperity-unleashed#:~:text=Smarter%20financial%20regulations%3A%20 solutions%20to,and%20accountable%20than%20ever%20before. 57. Federal Housing Finance Agency, “Single Security Initiative and Common Securitization Platform,” https:// www.fhfa.gov/PolicyProgramsResearch/Policy/Pages/Securitization-Infrastructure.aspx (accessed March 20, 2023). 58. U.S. Department of the Treasury, Financial Crimes Enforcement Network, Congressional Budget Justification and Annual Performance Plan and Report, FY 2023, Table 1.1, p. 3, https://home.treasury.gov/system/ files/266/13.-FinCEN-FY-2023-CJ.pdf (accessed March 19, 2023). 59. See Financial Crimes Enforcement Network, “Annual Report,” https://www.fincen.gov/annual-report (accessed March 19, 2023). 60. Financial Crimes Enforcement Network, “Suspicious Activity Report Statistics (SAR Stats),” https://www.fincen. gov/reports/sar-stats (accessed March 19, 2023). 61. David R. Burton and Norbert J. Michel, “Financial Privacy in a Free Society,” Heritage Foundation Backgrounder No. 3157, September 23, 2016, table 1, p. 10, http://thf-reports.s3.amazonaws. com/2016/BG3157.pdf. 62. Ibid., table 2, p. 11. 63. A recent report showed that just 14 surveyed financial institutions spent $2.4 billion on AML/CFT compliance. Bank Policy Institute, “Getting to Effectiveness: Report on U.S. Financial Institution Resources Devoted to BSA/AML & Sanctions Compliance,” October 29, 2018, p. 4, https://bpi.com/wp-content/uploads/2018/10/ BPI_AML_Sanctions_Study_vF.pdf (accessed March 19, 2023). 64. Burton and Michel, “Financial Privacy in a Free Society;” Norbert J. Michel and Jennifer J. Schulp, “Revising the Bank Secrecy Act to Protect Privacy and Deter Criminals,” Cato Institute Policy Analysis No. 932, July 26, 2022 , https://www.cato.org/sites/cato.org/files/2022-07/PA_932_2.pdf (accessed March 19, 2023); Michael Levi and Peter Reuter, “Money Laundering,” Crime and Justice: A Review of Research, Vol. 34 (2006); and Mariano-Florentino Cuellar, “The Tenuous Relationship between the Fight Against Money Laundering and the Disruption of Criminal Finance,” Journal of Criminal Law and Criminology, Vol. 93, No. 2 (Winter 2003) https://scholarlycommons.law.northwestern.edu/cgi/viewcontent.cgi?article=7123&context=jclc (accessed March 19, 2023). 65. This would be in cooperation with the IRS because Form 8300 is a joint IRS-FinCEN endeavor. 66. This data, as well as AML-CFT convictions, would published be in cooperation with the U.S. Department of Justice.

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