“Republicans Overseas Action releases White Paper on Territorial Tax Reform for Individuals.
Consistent with the proposals being considered for corporate tax reform, worldwide taxation for individuals should be replaced with a territorial system. A territorial system for individuals would:
· Promote the exports of U. S. goods and services;
· Increase the soft power and reach of the U.S.
· Encourage skilled immigration to the U.S.
· Discourage expatriation of U.S. Citizens and encourage repatriation of wealth from overseas
· Eliminate unfair double taxation of U.S. Citizens
· Enhance U.S. national security by removing the sharing of sensitive personal information with unfriendly countries
· Substantially reduce the size and cost of the IRS
We welcome your comments and suggestions. Please email them to Ms. XXX at xxxx for our consideration and addition. We will ask Congress to consider our Territorial Tax Reform proposal for individuals. Happy New Year to all 9 million overseas Americans.”
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