BANKS being required to report transactions over $600

[ABaumli]

So right now, banks have to flag transactions over $10K.

I don't understand why we have to change it to $600-$10K required reporting. IN fact, I would move the requirement up to $20K before required reporting.

Can someone explain to me how tracking $601 transactions is a way to catch or punish the rich?

Pelosi was asked about this today and she said that it would stay in the Reconciliation Bill.

"Yes yes yes yes yes"

 

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