Democrats Abroad are poised to vote on a resolution to change their position on FATCA from ‘reform’ to ‘repeal’. They are 12 years too late to stop their party from inflicting this horror on overseas Americans, and EIGHT YEARS LATER than the Republican Party in seeking to repeal FATCA.
Just a reminder that Republicans Overseas and the RNC have maintained strong opposition to FATCA:
- The RNC passed a resolution to repeal FATCA on January 24, 2014
- Republicans Overseas sued the US Treasury over FATCA beginning in 2015
- The 2016 GOP Platform included a transition to RBT and the repeal of FATCA
- In 2016, Republicans Overseas submitted a request to repeal FATCA to the House Ways and Means Committee
- In 2017, Republicans Overseas submitted a resolution to the US Senate Finance Committee calling for the repeal of FATCA and a transition away from CBT
- Senator Rand Paul and Congressman Mark Meadows introduced legislation in 2017 to repeal FATCA
- In April 2017, The U.S. House Oversight and Government Reform Committee’s Subcommittee on Government Operations, led by Congressman Mark Meadows, held a hearing on the Unintended Consequences of FATCA
- Republicans Overseas worked closely with Congressman George Holding to craft the Tax Fairness For Americans Abroad Act of 2018, which–if passed–would have helped to make FATCA irrelevant.
We welcome DA to join the right side of history–even if it has taken them 8 years longer than Republicans Overseas to reach the correct conclusion.