Republicans Overseas Secures Witnesses for House Hearing on FATCA Damage
TERRE HAUTE, IN – Congressman Mark Meadows (R-NC) will chair a hearing of the Subcommittee on Government Operations of the House Committee of Oversight and Government Reform on “Reviewing the Unintended Consequences of the Foreign Account Tax Compliance Act (FATCA)” on Wednesday, April 26, 2017 at 2:00 pm in the Rayburn House Office Building (Room 2154).
FATCA has been the primary factor in the dramatic increase in citizenship renunciation by Americans overseas for the past five years. Last year, 5,411 individuals gave up their US citizenship (compared with 231 in 2008); many chose the irrevocable option simply to be able to have basic bank accounts in the communities where they live overseas.
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FATCA HEARING PRESS RELEASE 200417