THE TRANSATLANTIC MAGAZINE
THE TRANSATLANTIC MAGAZINE
Congressman Darin LaHood joined a free webinar hosted by Tax Fairness for Americans Abroad (TFFAA) June 23, to discuss the latest regarding the unfair tax situation of US citizens who live abroad.
Rep. LaHood (R-IL) said a bipartisan bill to end the double taxation of Americans living overseas could emerge before the end of the year. He noted that the goal of ending double taxation enjoys bipartisan support, as well as support from the White House and the US Treasury Department.
The Residence-Based Taxation for Americans Abroad Act, sponsored by Rep. LaHood, is currently being refined and scored by the Joint Committee on Taxation. Its reintroduction is expected once the reconciliation bill working its way through Congress is resolved.
Rep. LaHood emphasized that the United States and Eritrea are the only two countries in the world that still impose income taxes on their citizens living abroad, calling this policy “silly” and a “wake-up call” for Members of Congress.
He said, "We are continuing to build support and momentum to ensure we fix this injustice as quickly as possible.”
TFFAA is a non-partisan organization committed to replacing the US system of citizenship-based taxation in favor of a tax system based only upon residence and source. It was involved with the thinking that led to the LaHood bill and has been helping drive support for it in Congress. www.taxfairnessabroad.org