Democrats are trying to find ways to fund new social program initiatives. One of the ways is through a proposal requiring banks to report additional information from taxpayers as a way to find additional taxes from unidentified income. What exactly do the Democrats want the banks to report to the IRS? The sum of deposits and withdrawals. The initial threshold for banks to report information was $600 which was met with criticism from Republicans and bank lobbyists. As a result, Democrats have proposed changing the threshold to $10,000 and it is currently being negotiated.