The deVere Campaign to Repeal FATCA steps up in Washington DC
Our Campaign to Repeal FATCA is now in full swing.
Launched earlier this month, this lobbying and media Campaign has one sole objective: to banish America’s toxic global tax law to the history books.
A delegation of the Campaign was in Washington DC last week to put the operation into high gear. Representing myself was deVere Group’s Head of Public Relations, George Prior; former U.S. diplomat Jim Jatras of Global Strategic Communications Group and Co-Leader of the Campaign; Brian Garst of the Center for Freedom and Prosperity; and Keith Redmond, an independent advocate for Americans overseas.
They all got involved with presentations about FATCA to two major tax activist groups that are playing a determining role in forming the tax reform package that will be passed by Congress later this year.
Additionally, the delegation also went to numerous congressional offices, including those of Senator Roger Wicker (R-MS), co-sponsor of Senate repeal bill in previous Congress; Senator Rand Paul (R-KY), sponsor of Senate repeal bill in previous Congress; Congressman Mark Meadows (R-NC), sponsor of House repeal bill in previous Congress; and Congressman Thomas Massie (R-KY), co-sponsor of House repeal bill in previous Congress.
A meeting also took place with the Senate Budget Committee, which is important for scoring FATCA’s repeal.Indeed, the fight to abolish this fatally flawed tax law is now well underway.
This toxic, imperialistic law has, in effect, turned some 8 million Americans overseas into financial pariahs. It violates the sovereignty rights of other nations, and is a threat to American jobs, therefore adversely affecting the U.S. and global economies.
The outcome of the meeting held in DC last week include a letter signed by a number of tax reform groups, fronted by the powerful Americans for Tax Reform, being sent to important Congressional leadership, advocating the inclusion of FATCA repeal in the 2017 tax package. The timeframe of the tax package depends on the impending action regarding Obamacare.
I am thrilled that FATCA repeal legislation will now certainly be introduced in Congress, in both the House and the Senate, over the next couple of weeks; which will serve as a motivation to garner additional support.
Furthermore, the delegation was offered assistance in acquiring early action by the Trump Administration to annul the IGAs, or intergovernmental agreements, that are an essential component of FATCA.
Everyone was in full agreement with the Campaign delegation’s objective, and all offered invaluable help on Congressional action and with the Administration. This involves gathering together sponsors, talks with key committees – in particular, House Ways and Means – and obtaining support from the Administration.
Moreover, other available levers include consideration by the Senate of currently pending tax treaties, rendering them unworkable as vehicles for FATCA or the IGAs; an increased budget to provide for FATCA repeal – an amount so trivial that it becomes lost in the $4 trillion budget – as well as letters to the Administration from Congressional supporters.
I am delighted with the immense high-level support for the Campaign to Repeal FATCA we’ve received so far. However, the hard work begins now, to ensure this devastating law is, at last, banished for good.