Crapo, Brady: Biden Administration Retreated by Failing to Demand Immediate Repeal of Competitors’ Discriminatory Taxes
Washington, D.C.–In a joint statement, Congress’s top Republican tax writers, Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) and House Committee on Ways and Means Republican Leader Representative Kevin Brady (R-Texas) blasted the Biden Administration’s surrender to foreign competitors’ discriminatory digital services taxes: “Rather than preserving our ability to protect American businesses and jobs, the […]
Crapo asks Treasury for Details of Democrats’ “New Approach” to Monitoring Private Financial Accounts
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the Senate Finance Committee, is requesting details about what is being publicly marketed as a “new approach” to the Administration’s financial reporting regime, under which Americans’ private financial information will be reported to the Internal Revenue Service from financial institutions. Crapo also clarified that any “new […]
Senate Republicans Blast IRS Bank Reporting Dragnet
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the Senate Finance Committee, and U.S. Senator Pat Toomey (R-Pennsylvania), Ranking Member of the Senate Banking Committee, today led a press conference with other Republican members of both committees to share concerns raised by their constituents about a proposal to create a reporting scheme where financial […]
Crapo Statement at Hearing on Health Insurance Coverage
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, delivered the following remarks at a hearing entitled, “Health Insurance Coverage in America: Current and Future Role of Federal Programs.” The text of Ranking Member Crapo’s remarks, as prepared, is below. “Thank you, Mr. Chairman, and welcome to our witnesses. […]
Crapo: Americans Should Loudly Reject Intrusive IRS Reporting Regime
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the Senate Finance Committee, delivered remarks on the Senate Floor outlining concerns with the Internal Revenue Service (IRS) financial account reporting dragnet and rumored changes. Watch Crapo’s remarks here. Excerpts: “Under the guise of ‘closing the tax gap,’ Democrats have proposed to drastically expand the […]
Crapo Statement at Nomination Hearing
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, delivered the following remarks at a hearing to consider the nomination of Chris Magnus, of Arizona, to be Commissioner of U.S. Customs and Border Protection, Department of Homeland Security. The text of Ranking Member Crapo’s remarks, as prepared, is below. […]
Crapo, Idahoans Highlight Concerns with IRS Bank Reporting Scheme
BOISE–Idaho’s U.S. Senator Mike Crapo, Ranking Member of the Senate Finance Committee, joined Idaho leaders, concerned constituents, and business and financial leaders for a roundtable discussion on a proposal to create a reporting scheme where financial intermediaries report to the Internal Revenue Service (IRS) on customer deposits and withdrawals. The Biden Administration and congressional […]
Brady, Crapo: Biden Global Tax Deal Puts Politics Over Progress, Surrenders Fate of U.S. Economy to Foreign Competitors
Washington, D.C.–In a joint statement, Congress’s top Republican tax writers, Senate Finance Committee Republican Leader Mike Crapo (R-Idaho) and House Committee on Ways and Means Republican Leader Representative Kevin Brady (R-Texas), blasted the Biden Administration’s announcement that it had reached an agreement with the Organization for Economic Cooperation and Development: “Rather than securing an agreement […]
Ranking Members Warn Against Bypassing Treaty Process
Washington, D.C.–The top Republicans on the U.S. Senate Finance Committee, the U.S. Senate Foreign Relations Committee, and the U.S. Senate Banking Committee expressed serious concerns with the Administration’s recent suggestions it is considering circumventing the Senate’s constitutional treaty authority in implementing a global tax agreement. Finance Committee Ranking Member Mike Crapo (R-Idaho), Foreign Relations Committee […]
Crapo, Brady Request Information on Efforts to Prevent Fraud in Tax Credit Program
Washington, D.C.–Top Republicans on the Senate and House tax panels are calling on the Government Accountability Office to look into whether states and federal agencies are taking proper steps to identify and prevent fraud and improper payments in paying out tax credits for health coverage, called “premium tax credits” or PTCs. The Members call […]