Posey Introduces Amendment to Prevent Costly New IRS Rule
July 26, 2012
Congressman Posey introduced an Amendment to H.R. 4078, the Red Tape Reduction Act, to delay a new IRS reporting requirement until unemployment drops to 6%. It's estimated that these new IRS regulations will lead to billions of dollars of capital flight from U.S. banks to foreign institutions. The Amendment passed the House with bipartisan support 251-165. July 25, 2012