A controversial proposal to have banks report account information to the IRS is likely dead, Sen. Joe Manchin said Tuesday.

The centrist and key swing vote on the partisan legislation said on Tuesday that he spoke to President Joe Biden about the proposal, which envisioned banks reporting all account inflows and outflows of over $10,000 to the IRS to crack down on tax fraud. After the meeting, he noted it would probably not be in the plan.

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