North Carolina State Treasurer Dale Folwell is among a group of state treasurers and auditors opposing a federal proposal that would allow the IRS to monitor bank accounts with more than $600.

The plan is part of Democrats’ $3.5 trillion spending bill currently being considered in Congress. The financial officers from various states sent a letter to President Joe Biden and U.S. Secretary of Treasury Janet Yellen, rebuking the provision. They wrote it would violate privacy, create data insecurity and put a strain on financial institutions.