As usual, Alex Newman provides a very well-informed and annotated update on the current state of affairs with FATCA and CBT in an article for The New American.
While he focusses on the efforts of the RNC and Republicans Overseas to repeal FATCA and CBT, Newman also underscores the need for all opponents of these destructive policies to join-together in a bi-partisan repeal effort:
Democrats and propagandists in the establishment press initially tried to frame the Republican efforts to stop FATCA and citizenship-based taxation as a scheme to protect “the rich” and “tax evaders.” The half-baked tactic failed spectacularly, however — especially because those suffering the most are poor and middle-class Americans who cannot afford armies of lawyers and accountants. The group Democrats Abroad, stuck in a Catch-22, is now on defense, trying to walk a fine line between not alienating the millions of embattled Americans abroad while also not criticizing their party’s handiwork too vociferously. It recently accused the GOP of pandering for votes, noting that no bill to repeal FATCA has been introduced in the Republican-controlled House. The media has remained almost entirely silent on the latest GOP resolution.
Republicans, though, say the effort to ease the burdens imposed on Americans abroad and to boost the U.S. economy should not be a partisan one. “Republicans Overseas would welcome the DNC and Democrats Abroad to join us by adopting a RBT resolution, incorporating it in its national platform, building political support for a RBT legislation, and introducing a tax reform package to replace FATCA and CBT with RBT in order to end double taxation for 7.6 million overseas Americans,” Republicans Overseas said in a statement. “Doing what is right and just for expats should be bi-partisan.”