Cindy Axne. (photo from Axne’s office.)
Congresswoman Cindy Axne of West Des Moines is urging her fellow Democrats to abandon a plan that would require new reporting from banks and credit unions about customer transactions.
Supporters say it would help track tax cheats hiding their income and should be included in the Democrats’ so-called “Build Back Better” plan. Axne and 20 other Democrats in the House say the data banks would turn over to the IRS raises privacy concerns. Axne says other elements of the package are higher priorities.
“We need to secure quality, affordable child care for working families across Iowa who on average spend 28% of their annual income on infant care,” Axne says. “Investing in child care would not only help our working families, it would add an estimated $1.7 billion in new state economic activity.”
Axne made her comments this week during Progress Iowa’s annual fundraiser and she offered a general defense of the overall package Democrats have struggled to assemble.
“The Build Back Better agenda isn’t about creating radical change,” Axne said. “It’s about making sure everyone has what they need to survive in today’s competitive economy and to make sure everyone has a fair shot at making a living.”
President Biden is scheduled to speak privately with House Democrats this morning at 8 a.m. Iowa time to convince Democrats in the House to vote for whatever plan Senate Democrats can develop and pass. House leaders have indicated they want a vote this week.