THE TRANSATLANTIC MAGAZINE
A new organization has been launched which will bring together key stakeholders in the overseas American financial scene in order to work together to advocate for US tax reform that will help US Citizens resident outside of America.
The Residence-Based Taxation Coalition (RBTC) is currently made up of the Association of Americans Resident Overseas (AARO), American Citizens Abroad (ACA), Americans Overseas, Bright!Tax, Dunhill Financial, the National Taxpayers Union (NTU), the Swiss American Chamber of Commerce and White Lighthouse Investment Management. The group is expecting to grow, and membership is now open to new individuals and organizations.
Explaining the thinking behind the Coalition, Charles Bruce, ACA Legal Counsel, said that "Historically all the Coalition partners have advocated for tax reform for Americans overseas. Now ACA is joining forces with other organizations to demonstrate to the US Congress and Administration that residence-based taxation has broad support from the business, tax advocacy and professional community".
Marylouise Serrato, ACA's Executive Director, added that "ACA believes that tax legislation will be a priority with the incoming US Congress and Administration and it is time for Representatives, Tax Committees and offices on Capitol Hill to consider the tax issues of Americans living and working overseas. Information and work developed by individual RBT Coalition participants will be key for those in Washington, DC who are working on tax legislation and regulatory reform".
The RBTC says that it will not advocate for a particular tax reform platform or proposal, but will "provide those responsible for tax reform with the data, information, background, and details as to why residence-based taxation should be enacted".
The group's formation follows a pledge by then Presidential candidate Joe Biden in 2020, where he promised to "work in partnership" with "Americans residing abroad", saying "My campaign has made it a priority to engage with you, and that will remain true throughout a Biden-Harris Administration."
For more information on the RBT Coalition, and details on membership, go to www.rbtcoalition.org.