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Senate Budget Action Fails to Repeal Tax Transparency Law


#1

Senate Budget Action Fails to Repeal Tax Transparency Law

Jubilee USA

WASHINGTON - Budget amendment SA 621, to repeal the Foreign Account Tax Compliance Act (FATCA), failed to reach the the US Senate floor for a vote on Friday. FATCA was originally passed in 2010 to prevent corrupt activities and Americans from evading taxes abroad. The law requires foreign financial institutions to disclose financial information or face penalties.

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#2

If FATCA was transparent to enable people to be aware of the negative consequences it is having upon innocent Americans living abroad, then thousands people would not have called the Senate to wrongly support what they morally cannot support. These 80 religious denominations are wrongly pressuring people to wrongly harm the innocent.

America needs to learn to make every effort to protect and defend innocent Americans living abroad instead of causing them unnecessary harm due to intransparent legislation which never took into consideration which negative impacts it would have upon the poor living in other nations.