Connie Borde donated 2017-05-05 10:26:12 -0400
It’s been a big week for the Foreign Accounts Tax Compliance Act (FATCA) in Washington DC.
Rep Maloney introduces Same Country Exception Bill
On Tuesday April 24, 2017 Americans Abroad Caucus[i] Chair Rep Carolyn Maloney (D-NY) introduced HR2136, the Overseas Americans Financial Access Act (OAFAA) in the House of Representatives. The bill embodies our FACTA reform recommendation, the Same Country Safe Harbor Exemption from FATCA reporting for Americans abroad. '
This reform has the support of our non-partisan colleague organisations representing Americans abroad, as well as the National Taxpayer Advocate. We plan on supporting the bill strongly in our Congressional Door Knock next month. We will also publish an information pack for the Global Action Team to share with Country Committees and Local Chapters interested in gathering members to write letters or postcards to Representatives seeking their sponsorship of the bill.
House Holds Hearings on FATCA Consequences
The OAFAA bill was introduced ahead of hearings held Wednesday April 25th by the Government Operations Subcommittee of the House Oversight and Government Reform Committee “Reviewing the Unintended Consequences of the Foreign Accounts Tax Compliance Act”. Democrats Abroad, working through legislative aides on Rep Maloney’s staff, has been trying since the hearing was scheduled to get a witness on the list to testify. As Republicans control the Committee (and all Congressional Committees) it was not surprising that we were not successful. Nevertheless Democrats Abroad made a submissionto the Subcommittee and we expect it will be published with the rest of the hearing submissions in due course.
Of course a written statement is not as powerful as speaking directly to the Committee in the hearing. Had we testified, Democrats Abroad would have reiterated our support for a switch to Residency-based Taxation. Failing that, we support the Safe Harbor exemption from FATCA reporting for Americans abroad.
Our scepticism about this hearing has always run high. Government Operations Subcommittee Chair Mark Meadows (R-NC) introduced a FATCA Repeal bill in the House of Representatives last month. The same bill was introduced in the Senate by Senator Rand Paul (R-KY), who testified at the hearing as a witness. Senator Paul, as you may know, was a plaintiff, now an appellant, in the lawsuit challenging the constitutionality of FATCA. The rest of the witnesses bar one were also strident FATCA opponents, including famed Citizens United lawyer Jim Bopp who represents Republicans Overseas.
The one witness who spoke in support of FATCA is a retired legislative aide. She worked for retired Senator Carl Levin (D-MI) and is deemed to be the architect of FATCA. She spoke strongly of the law’s importance as a critical deterrent to tax evasion – and not in favour of the Safe Harbor.
Fortunately Democratic members of the Subcommittee members Rep Maloney and Delegate Eleanor Holmes Norton (D-District of Columbia) spoke strongly in support of the Safe Harbor as a mechanism for both relieving the FATCA burden and maintaining the law’s original intent to discourage and apprehend tax evaders.
By the end of the hearing Chairman Meadows indicated he is open to compromise in developing a FATCA remedy for Americans abroad. That may stretch credulity given Meadows’ lead sponsorship on the House bill to repeal FATCA, but we will are taking his comments at face value. He asked the witnesses to get back to the Subcommittee with three recommendations to modify FATCA. Democrats Abroad will also make a submission providing recommendations. And we will continue to monitor the Government Operations Subcommittee and Chairman Meadows, looking for opportunities to work with them and others in developing a remedy that both addresses the problems FATCA is causing for ordinary, hard-working Americans abroad and protects its ability to fight financial crimes that underwrite terrorism and facilitate trafficking in drugs, arms and humans, as well as fight tax evasion.
Thanks to Katie Solon and Joe Smallhoover
Many thanks to International Chair Katie Solon and DA France Chair Joe Smallhoover for attending the hearing on Democrats Abroad’s behalf. They had valuable discussions on the edges and in the breaks of the hearing with FATCA reform allies and opponents, as our FATCA advocacy work clearly will go on. Katie and Joe also met Wednesday with officials at Treasury who have carriage of FATCA.
Our engagement with regulators and legislators about FATCA is in its 6th year. We are grateful to all those who have contributed to this important advocacy work over that time.
Please contact us at any time with questions or comments.
Respectfully submitted,Ms Carmelan PolceChair, FBAR/FATCA Task ForceDemocrats AbroadSingaporeM: +65 9380 1084Skype: carmelan.polce
FBAR/FATCA Task Force
Carmelan Polce, Chair (Singapore)
DeeDee Gierow (Sweden)
Michael Ramos (Australia)
Joe Smallhoover (France)
Orlando Vidal, Ex Officio (UAE)
Links herein to documents published by Democrats Abroad are posted on the Democrats Abroad wiki. They should not require a log in but please contact Carmelan if you are having trouble accessing them.
[i] The Americans Abroad Caucus has yet to be re-established in the 115th Congress but we anticipate Rep Maloney leading again as chair of this group. We will invite the House members we meet during our May Congressional Door Knock to join the Americans Abroad Caucus and will continue to search for leadership in the Senate on the establishment of a similar group. (House caucuses operate and are funded under rules of the chamber. There are caucuses of House and Senate members and there can be Senate caucuses but there are no similar Senate rules to govern or fund them.)
Connie Borde donated 2017-04-26 17:15:10 -0400
To the ExPat community, FBAR and FATCA legislation matters. Democrats Abroad has long been doing something about it. We've been lobbying for the Safe Country (or Safe Harbor) Exemption for years--a change in the legislation's implementation that, while not perfect, could provide access to banking facilities to millions of overseas Americans who currently have little or no such access. The Republican National Committee (RNC) put FATCA repeal in its 2016 platform, but where does this stand today? To learn more about the Democratic position, Democrats Abroad FATCA/FBAR Task Force prepared an information paper and update on where the legislation stands. Read about it HERE
Connie Borde donated 2020-09-21 08:57:16 -0400
LET'S WIN THE SENATE
MAKE A DONATION TODAY
Make a donation using the form on the left or join our sustaining donors Margin of Victory Club.
Are you interested in joining the Democrats Abroad Margin of Victory Club and making a monthly donation? Would you like to use Paypal to make a donation? Contribute to Democrats Abroad through ActBlue.
Every dollar you give supports our work to elect Democrats who will fight - AND FIGHT BACK - to make a better life for ALL Americans. Join us by making a donation today.
Julia Bryan, Chair - Democrats Abroad
We need Democrats like you to commit to Democrats Abroad - your Democratic Party for overseas Americans. Contribute to Democrats Abroad today and help us fight back against the Trump agenda, register Americans all over the world for the crucial 2020 elections, reach out on issues that concern you and build a brighter future for our country and the world. With your help, we can make the difference. We did it all over the country in 2018! And we MADE the difference in 2020! But there are two Senate races to go - in Georgia. So make a donation TODAY.
If you are unable to contribute online, send us a US Dollar check with this form to the following address.
PO Box 15130
Washington DC 20003
Thank you for your support!
On-line credit card contributions made to Democrats Abroad are secure, encrypted transactions made via Stripe.
Donations to Democrats Abroad are not tax-deductible.Donate
Connie Borde donated 2016-05-04 09:47:20 -0400
Make a supporting donation to Democrats Abroad and join us for a live video conference call and Q&A session with top Clinton Campaign staff to get the latest insight into the status of the race, and learn where the last pushes are needed to win.
Donating: $15, $25, $45, or $500 will enable you to join this update briefing callDonate
Connie Borde donated 2016-04-07 10:45:27 -0400
You are almost to Berlin! Please input your payment info and the names of any additional registrants you are paying for. If you have any questions please email International Treasurer, Art Schankler Treasurer@DemocratsAbroad.org .Donate
Connie Borde donated 2016-01-26 17:01:21 -0500
Thank you for joining the DA Donkey Design Challenge!
Help decorate the Democrats Abroad donkey by donating on behalf of your country. Top donating countries win a featured spot on the decorated donkey.
Best of all, proceeds go to our Get Out the Vote campaign for the 2016 elections with 50% of every dollar donated available for Get Out the Vote activities in YOUR country. So everyone is a winner.
Donkey Days closes on January 28th and we'll announce the results January 31. The donkey will make its premiere at the Democratic National Convention in July.Donate