Democrats Backtrack On Bank Reporting

Here\'s what happened.

Senior Democrats backtracked on a recent bill which will allow the IRS to monitor transactions of certain individuals. The amount before was set to $600 which many Americans deemed to be too low. The new amount is turning some heads.

Senior Democrats proposed that the limit at which the monitor would happen should be increased to $10,000 from the $600 that was originally proposed. Many Americans still say that there should not be any monitoring of American spending while others say that it is an acceptable amount for monitoring.

The monitoring is targeted for businesses and wealthy individuals in hopes of taxing them more for healthcare, schooling, wages, and other reasons Democrats think are worthy.