Washington, DC - In an
April 4, 2012, submission to the leadership of the International Tax
Reform Working Group and the Financial Services Tax Reform Working Group
of the Committee on Ways and Means of the U.S. House of
Representatives, American Citizens Abroad (ACA) - the flagship
association representing the interests of some seven million Americans
residing outside the United States - has again called for repeal of
FATCA ("the Foreign Account Tax Compliance Act") as part of a
comprehensive overhaul of the U.S. tax system.   While focusing on the
particular damage FATCA does to U.S. citizens living abroad, ACA pulls
no punches in spelling out the broader harm this 2010 law (now pending
implementation) threatens to inflict on the American economy as a whole,
while failing in its stated purpose of curbing offshore tax evasion.