FATCA “has had the practical effect of forcing FFIs to relinquish any association with American customers, and to avoid direct investment in the United States
“Perhaps even more troubling, the implementation of FATCA has allowed the Treasury Department to make independent decisions with respect to the sovereignty of foreign nations and the privacy of United States
“This is a major game-changer,” says James George Jatras of RepealFATCA.com. “With the wind in Washington
“Both American and non-U.S. firms that stand to lose millions of dollars each complying with FATCA need to help push the repeal bill through,” adds Jatras. “FATCA repeal needs to be part of any tax reform.” “Successful tax systems attract capital. Unsuccessful tax systems attempt to force other countries to become their tax collectors. That’s what FACTA is, and it should be repealed.” — Grover Norquist, Americans for Tax Reform.
“Senator Paul’s bold stand against FATCA has come at an opportune time. The world is fed up with U.S. fiscal imperialism. Rather than allow regulators to continue pursuing an unconstitutional ‘intergovernmental agreement’ strategy, it is time for lawmakers to accept defeat and abolish this fatally flawed law.” — Andrew Quinlan, Center for Freedom and Prosperity.
“The last thing America should be exporting is its complex tax laws. Senator Paul deserves a round of applause from taxpayers in our nation and around the world for recognizing the dangers FATCA poses to our economy and our civil liberties.” — Pete Sepp, National Taxpayers Union.
It is anticipated that a companion House version of Senator Paul’s bill will be introduced shortly, along with measures to block the Treasury Department from carrying out unauthorized FATCA “intergovernmental agreements.”
Visit www.RepealFATCA.com for more information on “”!  James George Jatras manages RepealFATCA.com. He previously served as a policy analyst at U.S. Senate and as an American diplomat. He can be reached at repealfatca@gmail.com .