The Government Printing Office has finally published the 284 pages of the Congressional Progressive Caucus’ bill we discussed earlier this month. For those who don’t recall, this bill includes provisions, as the CPC put it, to “Close Exclusion of Foreign-Earned Income Loophole”. I won’t bother quoting this bill at length since there’s nothing surprising in its the contents (aside from the hilariously non sequitur title: “Smarter Approach to Nuclear Expenditures Act”), but the list of sponsors is rather interesting in one regard: a third of them are children or grandchildren of immigrants.
The Congressional Progressive Caucus’ “Budget for All”, which would have repealed the Foreign Earned Income Exclusion, was voted down by 78–346 last week. It was formally proposed as Amendment 4 to H.Con.Res. 112; OpenCongress.org has the roll call. The House passed Paul Ryan (R-WI)’s budget instead. However, regardless of the failure of the “Budget For All”, Americans Abroad Caucus members who voted in favour of it still owe an explanation to U.S. persons abroad.
Last week, a number of Democrats in the U.S. House of Representatives, including more than a third of the putative members of the Americans Abroad Caucus, co-sponsored the introduction of HR 14, the House version of the Senate “highway” bill S 1813 we discussed earlier. That bill included provisions to let the IRS revoke or deny issuance of a passport, and also to give the U.S. Treasury the authority to illegalise credit cards from banks which they feel are “uncooperative” with the U.S.’ attempts to tax the whole world.
In a comment, Just Me points to some temporary good news: instead of voting on HR 14, House Republicans instead pushed through John Mica (R-FL)’s three-month highway-funding extension bill HR 4281, the ninth extension of the Bush II-era SAFETEA-LU act.
The Congressional Progressive Caucus, one of the larger Democratic Party caucuses, has proposed to end the Foreign Earned Income Exclusion in their 2013 “Budget For All”, details of which were revealed yesterday following a vague press release last week. As U.S. persons abroad have already learned, when American homelanders use words like “all” and “us”, we are decidedly not included, except when they want money from us. Indeed, with this latest budget proposal, even members of the Americans Abroad Caucus have come out in support of eliminating the FEIE.
Via Just Me on Twitter, we learn that Congresswoman Carolyn Maloney (D-NY), head of the House’s Americans Abroad Caucus, posted a video of her questioning Treasury Secretary Tim Geithner on, among other things, banking issues faced by U.S. Persons in non-U.S. jurisdictions. For those of you who hate watching videos (like me), after the jump I’ve made transcript of the relevant section, which begins around 3:14.