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Congressman Raskin issues overseas American tax statement to House Ways and Means Committee
Jamie Raskin (D-MD 8th District) advocates expat tax reform
Congressman Jamie Raskin will today (June 4) tell the House Committee on Ways and Means to support expat tax reform and to "provide tax reform relief ... to all Americans residing overseas."
During the June 4 Members Day Hearing, Raskin will read from a prepared statement in which he says "I would like to communicate to you all some concerns expressed by dozens of my constituents who are part of the nine million US Citizens currently residing overseas. I often hear from overseas constituents who encounter complex and frustrating challenges when dealing with the tax system, from double taxation and barriers to retirement savings, to out-of-proportion tax filing costs and unnecessary red tape". Raskin goes on to explain that "As someone who has lived abroad, I sympathize deeply with their situation."
In his speech, Congressman Raskin will say that "My constituents and the millions of US Citizens based overseas urge the Committee to consider the bipartisan concept of residency-based taxation and other reforms that will ease the burdens on Americans living overseas. US Citizens living abroad should not be forced to choose between two terrible outcomes: draining their life savings simply to pay their taxes or renouncing their citizenship to escape this outrageous double taxation."
Congressman Raskin's statement comes at a time when discussions continue in efforts to move from a Citizenship Based Taxation system to a Residency Based concept. This is another step in continued moves to highlight an issue that affects all overseas Americans.