July 3

It’s Official: There Will Be No American FATCA ‘Reciprocity’

Just in time for tomorrow’s American Independence Day, a leading member of the U.S. House of Representatives has struck what may turn out to be a mortal blow against the misguided “Foreign Account Tax Compliance Act” (FATCA). In a letter to U.S. Treasury Secretary Jack Lew, Congressman Bill Posey (R-Florida 8th), a key member of the House Financial Services Committee, has turned thumbs down on Treasury’s public claims that the U.S. will impose on American domestic financial institutions the “...

 

- Letter to Treasury Secretary Lew from Congressman Bill Posey

- Letter to Treasury Secretary Geithner from Senators Rand Paul, Jim DeMint, Mike Lee, and Saxby Chambliss