The Center for Freedom and Prosperity (CF&P) is praising three U.S. Senators for their leadership in introducing legislation that would prevent the IRS from implementing an unnecessary and destructive regulation.

The Center for Freedom and Prosperity (CF&P) is applauding the recent introduction of legislation that will prevent the IRS from implementing an unnecessary and destructive regulation.

In a pair of letters sent to Treasury and Congressional leadership, the Center for Freedom and Prosperity (CF&P) has once again asked Congress to repeal the Foreign Account Tax Compliance Act (FATCA), and for Treasury to conduct a cost-benefit analysis. While CF&P welcomes the recent IRS announcement that FATCA will not be put into force at the beginning of 2013 as originally scheduled, the announcement shows recognition on the part of the IRS of the heavy regulatory burden that would be placed on foreign financial institutions.

In light of the recent decision by the Internal Revenue Service, following significant industry backlash over the costs and burdens of the regulation, to delay the implementation of the Foreign Account Tax Compliance Act (FATCA), the Center for Freedom and Prosperity and the Coalition for Tax Competition are renewing the call for Congress to reconsider and repeal the ill-advised legislation.

The Internal Revenue Service’s recent decision to delay the implementation of the Foreign Account Tax Compliance Act (FATCA) stems from significant industry backlash over the costs and burdens of the regulation. In light of these developments, the Center for Freedom and Prosperity and the Coalition for Tax Competition are renewing the call for Treasury to conduct a real cost-benefit analysis to fully understand the implications of FACTA and its impact on the US economy.

In what is becoming an annual summer tradition, Senator Carl Levin (D-MI) introduced today legislation persecuting low-tax jurisdictions. His so-called Stop Tax Haven Abuse Act would not only fail in its stated purpose of raising new revenues, according to Andrew Quinlan of the Center for Freedom and Prosperity, but also would reduce investment in the U.S., increase burdens on American companies, and cost jobs.

A new video released today by the Center for Freedom and Prosperity Foundation (CF&P) explains that transforming Medicaid into a system of block grants will protect taxpayers and promote better healthcare policy.

The Medicaid program imposes high costs while generating poor results. This Center for Freedom and Prosperity Foundation video explains how block grants, such as the one proposed by Congressman Paul Ryan, will save money and improve healthcare by giving states the freedom to innovate and compete.

In a remarkable development, the Organization for Economic Cooperation and Development asserted at the Global Tax Forum that it has the power to regulate and restrain tax avoidance and other forms of legal tax planning. The Multilateral Convention on Mutual Administrative Assistance in Tax Matters, which is now the OECD’s preferred vehicle for thwarting tax competition, openly references “combat tax avoidance” as a reason for the new pact.