Claudine and I will be in Washington, DC to support the effort to repeal the Foreign Account Tax Compliance Act (FATCA). Proponents of FATCA claim it assists in tax compliance. But those impacted by the law, many of them our clients, know is it a senseless, mindless absurdity whose human costs far outstrip the trifle revenue its supporters claim it raises.
FATCA has to go.
The idea repeal FATCA came from Solomon Yue, a Chinese national who earned his US passport. He said to me in a conversation earlier this year "A US passport has to symbolize freedom like it did for me. Now I don't think it does." Solomon was insistent on adding a repeal FATCA plank to the Republican platform.
Also a huge help is Senator Rand Paul, who filed a lawsuit challenging the Constitutionality of FATCA. I've admired Sen. Paul's consistent pro-liberty stance since he entered the national stage. I am not surprised he found FATCA so horrifying as well.
Testimony to the negative impact of FATCA will be bipartisan. We have been given an inside peak into some of the testimony that will be forthcoming.
Our frequent guest Jim Jatras of repealfatca.com will be there, along with Keith Redmond who has been hustling behind the scenes to get the truth out.
Pro-FATCA testimony will be presented.
We do not believe that CSPAN will be covering the event. We have been asked to do so. Assuming our technology works and we have a solid interent connection, you can look forward to a live feed of the event followed by a Press conference.
We are honored to be able to help try to remove this terrible, terrible law.
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