This has been posted by Mark Twain on the ask your FATCA question thread and needs its own post…..
https://www.facebook.com/republicansoverseas/posts/208228726027597
A proposed RNC Resolution has been drafted by the following Chief sponsor and co-sponsors: Title — “Resolution to Repeal the Foreign Account Tax Compliance Act (FATCA)”
Will the @DemsAbroad sign on too, or now oppose in typical partisan fashion.?
Read more below the jump…
Whereas, In 2010 Congress passed the Foreign Account Tax Compliance Act (FATCA) in an effort to catch tax evaders; but this Act has inadvertently ensnared every United States Citizen living overseas due to its overzealous invasion of privacy and punitive taxation and enforcement;
Whereas, The United States is one of the only two countries in the world that taxes foreign income of its citizens living abroad who already pay taxes where they reside;
Whereas, FATCA creates enormous reporting burdens for American taxpayers living overseas and puts them a great risk for even the slightest innocent mistake;
Whereas, FATCA requires foreign financial institutions, to enter into an agreement with the Internal Revenue Service (IRS) to identify their U.S. account holders and to disclose the account holders’ names, taxpayer IDs, addresses, and the accounts’ balances, receipts, and withdrawals (sometimes in violation of foreign privacy laws);
Whereas, FATCA has resulted in Americans living and working overseas finding themselves, and their companies, shut out from access to banks, insurance loans and investment opportunities, as many foreign financial services providers have concluded that doing business with Americans is simply too much trouble thus decreasing America’s competitiveness overseas;
Whereas, FATCA’s primary mechanism for enforcing compliance of foreign financial institutions is a punitive withholding levy on U.S. assets, creating a strong incentive for foreign financial institutions to divest (or not invest) in U.S. assets, resulting in capital flight, hurting the U.S. economy;
Whereas, Time magazine reported a sevenfold increase in Americans renouncing U.S. citizenship between 2008 and 2011 and has attributed this at least in part to FATCA and another surge in renunciations in 2013 to record levels has been reported in the news media, with FATCA cited as a factor in the decision of many of the renunciants; and
Whereas, FATCA forces Americans living abroad to make a horribly unfair choice between renouncing their citizenship or abandoning their businesses abroad because foreign financial institutions won’t handle their transactions or accounts; therefore be it
RESOLVED, The Republican National Committee hereby presents this Resolution to each Member of Congress and urges the U.S. Congress to repeal FATCA and to allow those U.S. citizens who renounced their citizenship under FATCA to regain their citizenship;
RESOLVED, The Republican National Committee urges the IRS to cease inflicting damage on the United States and on the global financial system in an attempt to vindicate FATCA’s misguided approach to tax enforcement;
RESOLVED, The Republican National Committee by presenting this Resolution to each Member of Congress urges them to increase the competitiveness of Americans overseas and remove inappropriate invasions of American citizens’ privacy; and
RESOLVED, The Republican National Committee hereby presents this Resolution to each Ambassador and Representative from every foreign nation and warns them that the privacy rights of their own citizens are at risk due to reciprocal agreements.
Chief sponsor – Solomon Yue, Jr., Republican National Committeeman for Oregon
1st Co-sponsor – Carolyn McLarty, Republican National Committeewoman for Oklahoma
2nd Co-sponsor – Bruce Ash, Republican National Committeeman for Arizona
3rd Co-sponsor – Helen Van Etten, Republican National Committeewoman for Kansas
4th Co-sponsor – Roger Villere, Jr., State Chairman of Louisiana
5th Co-sponsor – Donna Cain, Republican National Committeewoman for Oregon
Additional co-sponsors will be added as more RNC members have an opportunity to review the resolution. It will be submitted to the RNC for consideration during its January Winter meeting in D.C.
You’re right, Joe Blow. What a great sign on “I Am Not A Myth” for a US green card permanent resident.
the Repubs Overseas have their eyes on the immigrant population and voters. Chris and others could weigh in to the email address.
As a long ago resident alien in the USA I can definitely say the stereotypical “American Dream” was a complete myth for us. We lived without phone service (no lines in our area), without medical insurance (way beyond our budget) and with very little income. (We drew on my husband’s talents in photography to make a small business for ourselves which meant long hours with less than $2/hr net income). BUT what we did get was an amazing number of happy moments and wonderful neighbours, most of whom were struggling just as we were so we were all in our NON-American Dream together. We also got a beautiful home but only because we hauled all the materials in and built the house ourselves. Hard work did not bring us anything close to “riches” but we had enough to eat and we really didn’t have any time to spare to worry about the “American Dream”. So yes indeed, I am not a myth but the American Dream is. Good one, Joe Blow!
@All
Please go to the McClatchy (sp?) site and comment. So far there are only two. Just_Me posted the link in an earlier comment in this thread. I am so hopelessly incompetent trying to use this phone. 🙁
Later this evening I am going to write each of the named RNC members a personal note to thank them. Perhaps others can do so also. A pleasure to write compared to the usual letter/email to reps, committees, etc.
Well, Dems Abroad Chile is on board.
http://www.da-chile.org/issues/tax-reform
You know they contacted me on twitter and asked me to work with them some time ago. At that time I had already told Dems Abroad Canada that I was going to need to relinquish my citizenship. Looks like when their leader in Chile contacted me, he wasn’t kidding they were going ahead to fight this.
Now I wonder if they have gone rogue directly challenging a policy set in place by dems. Let’s hope so. If so that will restore my faith that some have the courage to challenge party line when something is so blatantly wrong as this is.
Wouldn’t it be an amazing opportunity if the Dem Abroad and the Republican’s Abroad could draft a bi partison resolution – something Congress can’t do – to submit to both Congress and the President? I am not either (I am officially an Independent given the insanity both parties have exhibited) but if any IBS members have contacts in either camp – it would be worth floating the idea..
I very much like your suggestion, Steve Klaus. I, too, have no representation for either group, nor any longer of the US.
Merge the ‘Whereas’s
https://twitter.com/FATCA_Fallout/status/409255021524447233
Yes, indeed merge the “Whereas” and wouldn’t that be something. Home landers can’t work across the isle to get anything done but Americans abroad can work on a bad policy and get it changed. Yes, that would be something.
Common sense should prevail here but, partisanship in the U.S. is a blood sport.
The resolution mentioned is a resolution for the RNC congress in January. I suppose it means it is then part of the platform. That (Republicans overseas) group is listed as not being part of Reps Abroad (Reps Abroad is sanctioned by the RNC).
I don’t understand why Reps Abroad never championed the FATCA issue. It appears to me that the leaders in each country are quite Homeland centered and I’ve seen that, as such, most of the leaders are themselves well-accounted and therefore compliant and unaffected.
Reps Abroad and Dems abroad have standard feed pumped into their websites from Wash central — it’s pretty much like watching MSNBC and Fox on facebook. The country sites don’t seem to need much local management and the local leaders don’t seem to need to put in too much time to the work.
Yep, it is about 2 years overdue for Dems Abroad and Reps Abroad to begin working. They could get it to be a real bill proposal together.
@Mark Twain
“most of the leaders are themselves well-accounted and therefore compliant and unaffected.”
Likely true, and possible that they have little sympathy for those who they feel have neglected their obligations as US taxpayers. You can take the homelander out of the country…
@Just Me
Do you think there may be a political reason why Dems Abroad stated that CBT was enacted in 1962, when in fact it was actually during the civil war?
@bubblebustin…
There is always a political agenda with partisan groups, but then again, you can not rule out ignorance…
Breaking News: The RNC will study the concept of Residency-Based Taxation (RBT) as a fair and equitable tax reform measure for 7.6 million overseas Americans.
A RNC resolution in Support of RBT could be offered during the RNC Spring meeting… in April. Solomon Yue, Republican National Committeeman for Oregon will spearhead this effort. This idea was generated during a Q & A session of the first RO worldwide conference call with RNC Chairman Reince Priebus this morning, involving RO leaders from 19 foreign cities and countries: Albania, Beijing, Belgium, Germany, Hong Kong, Israel, Korea, Lebanon, Luxembourg, Mexico, Norway, Philippines, Russia, Shanghai, Switzerland, Taiwan, Thailand, Ukraine, and UK.
@ Mark Twain
Time for Dems Abroad to get on board, though I think they’re too busy having bake sales to be interested.
It’s nice to know that the RNC has some brave souls willing to approach something that’s in the past been considered political suicide! I just hope it doesn’t somehow become an exclusive TEA Party issue along the way.
Bubblebustin,
Many TEA Partiers have been very sympathetic towards American expats (eg. Rand Paul). One shouldn’t forget that the Boston TEA Party was about British expat merchants expressing their rejection of the British Parliament’s claim to tax its citizens (subjects) abroad.
Moreover, one should not underestimate the growing influence of TEA Party members within the mainstream Republican Party. The longer the socialist Demoklepts hold power in the White House and the Senate, the stronger the TEA Party becomes.
@Samual Adams
I realize that, but this is an issue that must be understood and embraced by Americans across the entire political spectrum for there to be any change. The TEA Party’s issues are dismissed by a huge swath of voters, who will dismiss this too.
Bubblebustin,
I disagree about the Tea partiers’ positions being just dismissed. I think the others will want to hijack the issue from them, which is ultimately what is needed in order to bring about real change.
Both parties used to routinely reject Ron Paul’s positions just because they ran counter current to generally accepted conventional wisdom. However, both parties have later latched on to many of his positions in order to claim them as being their own. Look at the positions the Dems have been taking about marijuana and incarceration of drug offenders. Look at how Freedom Works blatently hijacked and channeled the original grass roots Tea Party movement — both supported early on by Ron Paul.
@Samuel Adams
I see your point. There are certain TEA Party agendas I also embrace, like abolishing the IRS and the 16th Amendment. I guess if a party nails enough hot button issues across the political spectrum, they could theoretically capture the hearts of enough voters to win. As an American abroad, my priorities are completely different from someone living in the US. Lifestyle and equality issues that I may not agree with can be easily overlooked when supporting policies that affect me. For instance, in a choice between gay equality and abolishing the IRS, I think it’s pretty obvious what a US person abroad might choose, even though that voter may support gay equality in the country where they live.
…that’s the problem with Democrat’s Abroad, the conundrum they face in supporting a party’s agenda that harms them as non-resident American taxpayers.
To return to the RNC draft resolution, I’ve sent a note of thanks and encouragement to one of the co-sponsors – who happens to be from my home state and even hometown – setting out the arguments we all know so well for repealing FATCA. I also gave my views on the injustice of CBT and explained why America should join the rest of the world and adopt RBT. It may not do any good but is certainly worth the very little time and effort it took. Thanks, Mark Twain, for sending me his e-mail address. Maybe it would be worthwhile getting the addresses of the main sponsor and other co-sponsors circulating here so we could flood them with messages of support.
BTW, I am not affiliated with either the Republican or Democrat party.
Jane Doe, I’ve also just sent an e-mail of support to solomon@grassfiregroup.com hoping that this email will find its way to Solomon Yue at Republicans Overseas. If anyone has a better email address please let me know. I also asked for the thoughts Reps Overseas has on organizing in Canada (the country it has yet to mention).
I have voted Republican in the past, but not recently. Some of the Tea Party nonsense makes it difficult to support the Republicans, but If a RNC resolution supporting residence-based taxation actually gets adopted, it would be difficult for me not to support the party that aims to protect US citizens overseas.
I’m a registered non-affiliated. I only abhor the party that enacted FATCA and the turncoats that voted along with them. Those that may be or want to be registered repubs could volunteer to work for Repubs Overseas in your country. When I first saw this, they had only one country rep and it was Albania. It looks like they have a number of reps now. It appears that those members are technical members, working on that issue. It doesn’t appear that the country leaders are yet those that are connected to potential funders.
Wyoming jumped in quickly to support it after my letters. I am writing simple letters to N Dakota, S Dakota, Nebraska, and Colorado. The RNC leaders and any Repub Congress/Senators. Anybody want to follow, the more the merrier. I hope to refer to Wyoming supporting it as they are all friends in the region.