Tax

Does the Senate Finance Committee have something against thrifts? Thrifts were inexplicably left out of an exception to the proposed tax on remittance transfers in the Senate Finance draft of title VII of the Big Beautiful Bill. The language exempts transfers that are withdrawn from an account in a financial institution "which is described in subparagraph (A), (B), (C), (D), (E), (G), or (H) of section 5312(a)(2) of title 31, United States Code...." This language references the following subparagraphs in the Bank Secrecy Act's definition of "financial institution" (conspicuously skipping...