This is first time I have seen any member of Congress go public on FATCA to their constituents. Excerpts:
Rep. Reichert Demands Answers on FATCA Implementation from IRS Commissioner
“Whether or not we agree on the approach that FATCA prescribes – which now allows the IRS to enforce the disclosure of personal private information about US persons from foreign companies – it is now clear that the implementation process of FATCA involves the IRS acting with an implied license to determine a new direction for global tax policy,” wrote Reichert. “I have talked with constituents, had discussions with international companies who are looking to comply, and many who wonder how successful these new policies will be in achieving their intended consequences.”
In the letter, Reichert, a member of the House Ways and Means Committee, asks Commissioner Shulman to provide information on how the IRS is taking into consideration the potential effects on U.S. businesses and persons when negotiating IGAs, and asks the IRS to provide information on these considerations as Congress looks toward comprehensive tax reform.
I find the “I have talked with constituents” to be quite interesting clearly there are a lot of people registered to vote in Bellevue/Issaquah effected by FATCA. He also has a link to the letter he sent to Shulman CCed to Tim Geithner.