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YOU HAVE GOT A RENT PAYMENT OVER $600, PLANNING TO BUY AN AIRPLANE TICKET OVER $600, HOW ABOUT A NEW HUNTING RIFLE, A WEDDING DRESS FOR YOUR DAUGHTER? ALL OF IT, ANY TRANSACTION OVER $600 WOULD BE SENT TO THE IRS UNDER PRESIDENT BIDENS PLAN. Ken: NOW, IN A SHARP PUSHBACK AGAINST THE PROPOSAL, MORE THAN 40 TRADE ASSOCIATIONS, SOME OF WHICH REPRESENTENTIRE INDUSTRIES OR ECONOMIC SECTORS, SIGNED A LETTER TO U.S. HOUSE SPEAKER NANCY PELOSI AND MINORITY LEADER KEVIN McCARTHY , RAISING THE ALARM ABOUT THE PLAN. THE LETTER, WHICH INCLUDES THE SUPPORT OF SEVERAL BANKING COALITIONS, CALLS ON CONGRESS TO REJECT THAT REQUIREMENT, SAYING IT VIOLATES CUSTOMERS PRIVACY AND WOULD CREATE AN INCREDIBLY EXPENSIVE AND ELABORATE REPORTING REQUIREMENT FOR THE BANKS. WE ARE TALKING ABOUT GOING DOWN TO $600, WE WILL REQUIRE A WHOLE LOT MORE REPORTING AND AFFECT A WHOLE LOT MORE ACCOUNTS AND A WHOLE LOT MORE PEOPLE. Ken: MEANWHILE, BLOOMBERG.com REPORTS THAT CHAIRMA