RNC Passes Resolution Backing FATCA Repeal

Law360, New York (January 24, 2014, 5:30 PM EST) -- The Republican National Convention on Friday approved a resolution urging lawmakers to abolish the Foreign Account Tax Compliance Act, saying the government's efforts to fight offshore tax evasion will penalize innocent taxpayers and hurt the nation's economy. 

FATCA has been gaining momentum since it was signed in 2010, but Friday's vote at the RNC's winter meeting takes a public swipe at the law, which Republicans say is “overzealous” and “punitive.”

“FATCA forces Americans living abroad to make a horribly unfair choice between renouncing their citizenship and...
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