Sen. Paul Urges Repeal Of Anti-Tax Evasion Law

Law360, Washington (May 8, 2013, 6:42 PM EDT) -- Sen. Rand Paul, R-Ky., introduced a bill Tuesday that would nix U.S. Treasury Department attempts to cull information on U.S. tax cheats utilizing foreign banks accounts, saying the current law violates citizens' constitutional rights to privacy.

According to Paul, the Foreign Account Tax Compliance Act has allowed the Treasury Department to enter information-sharing agreements with foreign countries in order to root out tax evasion, creating significant privacy and sovereignty concerns without the assurance that it will meet its goals.

"FATCA is a textbook example of a...
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