President Andrew Quinlan will be taking part in a panel discussion on the implementation of the Foreign Account Tax Compliance Act (FATCA) and its ramifications for international banking at the 36th Annual Conference on the Caribbean and Central America, hosted by Caribbean-Central American Action.

Fresh off new delays in its implementation of the disastrous FATCA legislation, the Treasury Department has announced that it is in discussions with more than 50 countries to sign bilateral agreements…

“While foreign and domestic financial institutions are taking a beating, it’s ultimately the American people who will bear the brunt of FATCA. Consumers who engage in financial activities will face higher costs, and reduced investment will mean fewer jobs for American workers. Unfortunately, as this is a mess wholly created by Congress, only Congress can fix it. They must repeal FATCA now.”

Four US Senators are demanding details from Treasury Secretary Timothy Geithner regarding a recent plan to impose significant financial burdens on US institutions in exchange for international compliance with the burdensome FATCA (Foreign Account Tax Compliance Act) law.

The price of American citizenship only seems to get costlier – and I’m not just talking about high taxes. For Americans living or working overseas, excessive US regulations are becoming a disruptive burden, as exemplified by this disclaimer from Swiss PKB Privatbank brought to our attention by good friend Dr. Eduardo Morgan of Morgan and […]

In light of today’s Treasury Department hearing on the Foreign Account Tax Compliance Act (FATCA), the Center for Freedom and Prosperity (CF&P) is again taking the opportunity to call upon Congress to repeal the legislation.

The Levin-Conrad-Whitehouse amendment inserted provisions supposedly to “Stop Tax Haven Abuse,” but which would in reality further undermine global capital flows and the world economy.

Last year, I came up with a saying that “Bad Government Policy Begets More Bad Government Policy” and labeled it “Mitchell’s Law” during a bout of narcissism. There are lots of examples of this phenomenon, such as the misguided War on Drugs being a precursor to intrusive, costly, and ineffective money laundering policies. Or how […]

Peter Dunn, warning of the many issues with the Foreign Account Tax Compliance Act, has written a great article at American Thinker called “FATCA: A Ticking Time Bomb for the Economy.” Lawmakers clearly need to reconsider the law and its accompanying regulations and withdraw them before trillions are driven from the economy: Now the HIRE […]

As CF&P has consistently warned, the Foreign Account Tax Compliance Act passed last year is driving foreign investment out of the US, which means less capital investment for the economy and thus fewer jobs for Americans. A group of Taiwanese banks fed up with the burdensome requirements of the law are reducing their US holdings, […]