[Congressional Record Volume 167, Number 169 (Tuesday, September 28, 2021)]
[House]
[Pages H5467-H5468]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    HONORING THE LIFE OF RAY LARSON

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
Kentucky (Mr. Barr) for 5 minutes.
  Mr. BARR. Mr. Speaker, today, I rise to honor the life of a devoted 
public servant, Ray Larson of Lexington, Kentucky.
  Ray served as assistant deputy attorney general for the Commonwealth 
of Kentucky, but later, for 32 years, Ray was one of the most 
consequential Commonwealth's attorneys in our great State's history, 
dedicated to our community and the rule of law.
  He was an outstanding prosecutor, always laser focused on deterring 
crime, relentlessly pursuing justice, advocating for victims' rights, 
and keeping central Kentucky families safe.
  Ray was an unapologetic and principled fighter, leading by example 
and advancing the cause of law and order. He believed in defending, not 
defunding, the police.
  Ray was a faithful member of Good Shepherd Episcopal Church, where he 
served as a Eucharist minister and taught high school Sunday school for 
over 30 years.
  On a personal note, Ray was a dear friend and an important mentor to 
me.
  Mr. Speaker, Ray Larson was a great American patriot who made a 
positive difference, and he will be deeply missed. God bless him and 
his family, and I appreciate the opportunity to pay tribute to a great 
American.


              IRS Financial Institution Reporting Mandate

  Mr. BARR. Mr. Speaker, I rise today in opposition to the Biden 
administration's proposal to mandate banks, credit unions, and other 
financial institutions to report the inflows and outflows of customer 
bank accounts to the IRS.
  Think big government has too much of your personal data now? Just 
wait until the Biden administration and congressional Democrats require 
banks to submit the financial transactions of millions of Americans to 
the IRS.
  Let me repeat that. For the Americans watching on C-SPAN right now, 
President Biden, as part of his massive job-killing tax increase, wants 
the IRS to have unfettered power to spy on your bank accounts, your 
deposits, your withdrawals, and your payments.
  While I was pleased to see that the Ways and Means Committee did not 
include this provision in their bill during markup, news reports 
suggest there are still negotiations with the administration for its 
inclusion. A higher account threshold or other minor policy shifts will 
not solve the fundamental flaws with this proposal.
  The mandatory reporting of Americans' transactions violates their 
privacy and puts an undue burden on financial institutions that could 
cripple community banks that helped get government aid to struggling 
small businesses during the pandemic, and it is predicated on the Biden 
administration's assumption that every American is somehow a tax cheat. 
How offensive. This is a disgusting example of Big Government 
overreach, and I am sounding the alarm.
  I urge my colleagues on both sides of the aisle to actively oppose 
this misguided and dangerous proposal.


 Irresponsible Vote to Increase the Debt Ceiling Without Fiscal Reforms

  Mr. BARR. Mr. Speaker, I rise today as a member of the House 
Financial Services Committee in strong opposition to the Democrats' 
reckless and irresponsible vote to increase the debt ceiling without 
any fiscal reforms and provide a blank check for the Democrats' 
socialist tax and spending spree, which they intend to ram through 
Congress later this week or in the coming weeks.
  Everybody understands we cannot default on our debt. But don't let 
the Democrats and their allies in the media fool you. This debt limit 
increase does not cover funds already spent. The ceiling suspended in 
2019 accommodated 100 percent of the spending under the previous 
administration, including five bipartisan COVID response bills and then 
some.
  But Democrats chose to pass, on a partisan basis, $2 trillion in new 
spending, less than 10 percent of which actually responded to COVID, 
and that is what has brought us to this new debt limit. Republicans did 
not vote for that $2 trillion, and now President Biden and Democrats 
want an additional $5.5 trillion, $4.3 trillion of which has zero 
Republican support. So it is Democrat partisanship that has resulted in 
a partisan debt limit vote.
  Let's be clear. This debt limit vote enables massive amounts of new 
spending, not old spending. Even with the largest tax increase in 
American history, a tax increase that would make the tax burden on 
American businesses higher than in communist China, this is a bill that 
will add at least $2.4 trillion to the national debt, even with all of 
those new historic tax increases.
  And the hypocrisy of those who criticize the job-producing and 
revenue-producing Tax Cuts and Jobs Act, claiming that it would 
massively increase the deficit, where are they now? The hypocrisy is 
breathtaking. These are the same people who support adding trillions to 
the national debt.

[[Page H5468]]

  I came to Congress to save this country from bankruptcy, and I will 
not stand idly by as such dangerous legislation is pushed on a partisan 
basis through the Congress.
  Mr. Speaker, oppose this tax and spending spree.

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