Wednesday, July 15, 2015

Democrats Abroad responds to Rand Paul’s legal challenge to FATCA

FACTA reform, not repeal, needed to end burden on Americans living abroad

Senator Rand Paul is leading a legal challenge to the Foreign Account Tax Compliance Act (FACTA) filed by the Bopp Law Firm – the lawyers who spearheaded the overturning of McCain-Feingold campaign finance reform via the Citizens United case.

Democrats Abroad condemns Rand Paul’s legal challenge to law target tax evaders
Republican Presidential candidate leads court challenge aiming to reduce oversight of banks
Reform, not repeal, needed to end burden on Americans living abroad

Katie Solon, Chair of Democrats Abroad, said:
“Senator Paul’s attempts to gut FATCA, led by the ‘Citizens United’ legal team which unleashed millions of dollars of unregulated corporate campaign donations into American elections, will not deliver the urgent and critical changes to the law that are needed by Americans living abroad. Efforts to overturn this legislation through years-long legal action, successful or not, will result in more families losing their bank accounts and having their mortgage applications refused by banks.

Read the full statement on the Democrats Abroad website

Also be sure to review Democrats Abroad position and reports on FATCA

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