- Bernie SandersSenator
ADDRESS CITIZENSHIP-BASED TAXATION
Over 7 million American citizens currently reside outside the United States, and we the undersigned are asking that you address the inequities of citizenship-based taxation and the undue burden that FATCA/FBAR reporting standards place upon the majority of these citizens abroad, and particularly those of us in the working and middle classes.
Expats are under extreme suspicion by the US Government for “hiding” our money in tax havens. Not only do we have to supply banking details, we are forced to file tax returns with the Internal Revenue Service, even if we do not earn any money in the United States. It is onerous, unfair and exploitative.
US expats get nothing from this reporting but accounting bills and headaches. If Citizenship-based tax reporting ceases, far fewer Americans will feel it necessary to relinquish their citizenship, an action which is at an all-time high.
If all US Expats were counted as a state, we would be the 7th-largest. Our voices must be heard, and we hope you, of all people, will hear us and address this issue.
Many Americans abroad have lived with the policies that you advocate for. As such, they know these policies work. However, there is one hurdle to winning over my full and unreserved support as an American abroad.
That hurdle? Citizen based taxation and its surrounding issues.
Indeed, while the well-being of our brothers and sisters back home is enough to garner many votes from our particular community, CBT, FATCA, and FBAR hurts many more of our middle and working class members. So, while I may support your policies in other areas, I feel as though my community of Americans abroad is again being taken for granted.
Are you willing to take another look at the issues around citizenship-based taxation and suggest either repeal or adjustments to the relevant legislation so that they do the jobs they were intended to do without putting undo stress and financial hardship on hard-working Americans simply living and working abroad?
Thank you for your time, and I look forward to you addressing this issue as soon as possible.
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