Sen. Paul and Rep. Meadows offer bill to repeal FATCA

April 7, 2017

Rep. Mark Meadows (R-N.C.) and Sen. Rand Paul (R-Ky.) offered legislation Thursday to repeal an Obama-era offshore tax law.

The bill would do away with provisions of the Foreign Account Tax Compliance Act (FATCA), which requires foreign financial institutions to report information about accounts held by U.S. citizens to the IRS.

Photo by Greg Nash

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