- To examine the effects of the Foreign Account Tax Compliance Act (FATCA) on the U.S. and international economy, as well as potential legislative remedies.
- Signed into law in 2010, FATCA requires non-U.S. financial institutions to report assets and identities of U.S. citizens with non-U.S. financial accounts to the Internal Revenue Service.
- As a result, many foreign banks have stopped serving U.S. citizens, and record numbers of Americans have renounced their citizenship.
- Senator Rand Paul (R-KY) and five expatriates filed a lawsuit claiming FATCA constitutes an unconstitutional breach of privacy, as well as an illegal treaty
Witnesses and testimonies
|The Honorable Rand Paul||U.S. Senator||State of Kentucky|
|Mr. James Bopp, Jr.||Attorney||The Bopp Law Firm, PC|
|Mr. Mark Crawford||Director||AKSIONER International Security Brokerage|
|Mr. Daniel Kuettel||Former U.S. citizen living in Switzerland who renounced his U.S. citizenship due to FATCA|
|Ms. Elise Bean||Washington Co-Director||Levin Center at Wayne Law Wayne State University|