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Sen. Lummis asks Biden ‘do you distrust Americans so much that you need to know when they buy a couch?’

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Sen. Cynthia Lummis (R-WY) took her opportunity to blast President Biden during the latest Senate Committee on Banking, Housing and Urban Affairs. Treasury Secretary Janet Yellen appeared for a hearing Tuesday when Lummis took aim at Biden’s financial policy.

Following Biden’s proposal to require banks to hand over transaction data over $600 on individual bank accounts, Lummis railed against the president

“Banks do not work for the IRS,” Lummis said. “This is invasive of privacy. Wyoming’s people literally will find alternatives to traditional banks just to thwart IRS access to their personal information, not because they’re trying to hide anything, but because they are not willing to share everything.”

However, Secretary Yellen corrected the senator. She claimed that the administration would just see reports on aggregate transactions. This way, there would be no way to see the data behind individual accounts.

“Do you distrust the American people so much that you need to know when they bought a couch? Or a cow?” Lummis asked. “I am astounded by what you’re supporting and proposing. I think it’s invasive. I think privacy for individuals is being ignored. And I think that treating the American people like they are subjects of the government is unconscionable.”

“The IRS has a wealth of information about individuals,” Yellen said. According to the treasure secretary, the proposal is for those who have “opaque sources of income.”

“A $600 threshold is not usually where you’re going to find the massive amount of tax data you think Americans are cheating you out of,” Lummis responded.

According to the Office of Tax Analysis, a crackdown on unreported income could generate $460 billion over the next decade. Yet, the IRS estimates that compliance on taxes due on wages is 99%. Meanwhile, compliance on what they call “less visible” sources of income is at 45%.

You can follow Jenny Goldsberry on Twitter @jennyjournalism.

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Biden’s education secretary vows to shut down the largest Christian university in the US

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After Department of Education Secretary Miguel Cardona vowed to shut down Grand Canyon University (GCU), the largest Christian university in the U.S., GCU officials are pushing back, telling Fox News Digital the crackdown stems from “deeply held bias.”

In response to Cardona’s comment about shutting down universities like GCU, a GCU spokesperson told Fox News Digital that “officials continue to make derogatory and inflammatory public statements that are legally and factually incorrect and not shared by any of the other 26 regulatory and accrediting bodies that oversee GCU.”

“The Secretary’s comments to the House Appropriations Committee were so reckless that GCU is demanding an immediate retraction, as they do not reflect the factual record in this case. He is either confused, misinformed or does not understand the actions taken by his own agency,” the spokesperson added.

The president of GCU previously expressed to Fox News Digital sentiments of being “unfairly targeted.”

Grand Canyon University President Brian Mueller told FOX News Digital in October why he believes the university is being targeted by the Department of Education.

Cardona made comments during a House Appropriations Committee hearing about cracking down on GCU and other universities like it on April 10.

Rep. Rosa DeLauro, D-Conn., asked Cardona how the administration is working to shut down GCU, which she called “a predatory for-profit school.”

Cardona openly embraced their enforcement methods, declaring “we are cracking down not only to shut them down, but to send a message to not prey on students.”

“Last year, your Department took action against Grand Canyon University, a predatory for-profit college, over the school’s failure to accurately disclose its cost to students, driving up the true cost for those students requiring for them to pay for continuation courses before they would graduate – scam courses added about $10,000 or more to the cost of education to these kids,” DeLauro said.

“Going after predatory schools preying on first generation students. They have flashy marketing materials, but the product is not worth the paper it is printed on. Increased enforcement budget to go after these folks and crack down. Levied largest fine in history against a school that lied about costs and terminated a school from Title IV. We are cracking down not only to shut them down, but to send a message not to prey on students,” Cardona responded.

GCU appealed a $37.7 million fine imposed by the department in November on allegations that the Arizona-based higher learning institution misled students about the cost of its doctoral programs over several years.

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