CAPITOL REPORT: REPRESENTATIVE PATRICIA PIKE

MO Pushes Back to Protect Financial Information of Citizens

Dear Citizens: Missouri State Treasurer Scott Fitzpatrick has joined a coalition of 22 State Treasurers and state financial officers to speak out against new requirements proposed by the Internal Revenue Service (IRS). The group is opposing a proposal that would require financial institutions to turn over private citizens’ personal bank account information to the IRS if they exceed $600 of inflows or outflows from the account.

Treasurer Fitzpatrick said, “These proposals follow a troubling pattern of increasing government overreach….they are not considering the potential impact on small businesses and our small community banks and credit unions. The impact of these proposals touches millions of Americans—and puts their data privacy at risk. Not only that, it might discourage unbanked Americans from opening bank accounts, which is detrimental to their financial health.”

Fitzpatrick signed onto a letter with his fellow state financial officers that was sent to the President. The letter states, “We do not believe the federal government should give the IRS the unprecedented and unconstitutional power to peer into law abiding American citizens’ private financial accounts. This would be one of the largest infringements of data privacy in our nation’s history and is a direct assault on law abiding private citizens’ financial disclosures.”

Part of the Federal American Families Plan, this proposal would create a comprehensive financial account information reporting system under which financial institutions would be required to report information on account inflows and outflows over $600. These reporting requirements are anticipated to burden financial institutions as well as put sensitive financial data at risk and the IRS at a greater risk of cyber-attack.

The letter goes on to say, “This would impact well over 100 million Americans who currently have a financial account. In the last year alone, over 127 million Americans qualified for the CARES Act which deposited funds in excess of $600 into their financial account. Funds deposited included $600 weekly boost in unemployment benefits from the Federal Pandemic Unemployment Compensation Program (FPUC) for the 25 million Americans who lost their job during the pandemic, roughly $3,200 in Economic Impact Payments (EIP) and most recently Advanced Child Tax Credit Payments to millions of Americans.”

The letter in its entirety can be viewed at the following link: https://treasurer.mo.gov/pdf/SFOFLetterToPresidentBidenandSecretaryYellen.pdf

Contact Representative Patricia Pike at patricia.pike@house.mo.gov or call 573-751-5388.

Appleton City Homecoming Royalty

Friday night, September 24th the Appleton City High School had the pleasure of celebrating Homecoming with their community. It was wonderful to see everyone come out in support of the Appleton City school and most importantly their students. All the Appleton City High School candidates and escorts did a wonderful job.

Hallie Harkrader was crowned Homecoming Princess and Breanne Siegismund was crowned Homecoming Queen.

Osage Valley Lineman home from Louisiana

Osage Valley Electric Coop is thankful to have all of their linemen home from Louisiana. Two different crews went to Louisiana and each spent about two weeks working 16 hours a day to restore power to DEMCO members.

Osage Valley Electric Coop has much appreciation to these linemen!

Group One: Clinton Bennett, Scott Long, Shawn Shipley, Jimmy Nissen, Scott Trammell, Daniel Lewis, Jonathan Schussler, Bobby Fennewald.

Group Two: Devon Page, John Dimond, Jacob Goucher, Dan Stephenson, Alex Hamilton, Jarod McBrayer, DEMCO lead-Josh Miller, Stetson Shirky, Richard Kithcart

Harrisonville Football Schedule Change

The Harrisonville Wildcats game originally set for Friday, October 1st has a schedule change. The Harrisonville Wildcats varsity game against the Center Yellowjackets at Center High School will be played on Saturday, October 2. The game will start at noon.