The Center for Freedom and Prosperity announces its support for Congressman Bill Posey’s (R-FL) recent letter challenging Treasury Secretary Lew regarding implementation of the Foreign Account Tax Compliance Act (FATCA).

The Center for Freedom and Prosperity, joined by 20 of the country’s largest and most influential free-market, taxpayer protection and grassroots organizations, sent a letter to Senate members urging support for legislation introduced by Sen. Rand Paul to repeal the majority of the Foreign Account Tax Compliance Act (FATCA). The bill, S. 887, would repeal FATCA’s most costly and privacy-violating provisions.

[PDF Version] June 6, 2013 Dear Senator: We the undersigned organizations are writing to urge your support for S. 887, which would repeal economically destructive and anti-privacy provisions of the Foreign Account Tax Compliance Act (FATCA). FATCA imposes on foreign financial institutions the obligation to provide financial information on the accounts of U.S. citizens without […]

This article appeared in Harbour Times.

The Center for Freedom and Prosperity (CF&P) today applauded Senator Rand Paul (R-KY) for introducing legislation that would repeal the most economically destructive and privacy violating provisions of the Foreign Account Tax Compliance Act (FATCA).

Yesterday, an article in The Wall Street Journal by Ben DiPietro reported that Senator Rand Paul is holding up “FATCA treaties” in the Senate. If only it were so, but this is simply untrue. There are no such FATCA treaties. The treaties in question are separate tax agreements that have nothing specifically to do with […]

There are many problems with the FATCA intergovernmental agreement (IGA) process. From a US perspective, they agreements represent a subversion of the proper treaty process, an unconstitutional expansion of executive powers, and an unwise commitment to saddle US banks with expensive new reporting requirements. From an international perspective, the IGA’s are deceptive and ill-advised. For […]

The Center for Freedom & Prosperity submitted comments to the House Ways and Means Tax Reform Working Groups calling for repeal of the Foreign Account Tax Compliance Act (FATCA).

This article appeared in The Daily Caller.

I recently noted that the Foreign Account Tax Compliance Act (FATCA) would threaten America’s global economic dominance because, among other reasons, “Investment will instead go to places like China, where the government is unlikely to sign away their fiscal sovereignty to US tax collectors.” This view was seconded in a recent interview by Nigel Green, […]