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US Expat Tax Bill to be re-introduced in 2019, says Republicans Overseas CEO
Solomon Yue suggests 2019 will see the Tax Fairness for Americans Abroad Act re-introduced
Yesterday, we reported on the state of play with 2018's Tax Fairness for Americans Abroad Act. The bill proposes an end to Citizenship Based Taxation, offering relief to the many US Citizens around the world who are currently required to file tax returns to the IRS each year.
As the bill, introduced by Congressman George Holding, was submitted before the adjournment of the 115th Congress, it does not automatically proceed to the 116th Congress, which was sworn in earlier this year. For the bill to continue through the legislative process, it would need to be re-introduced.
After our report was posted, one eagle eyed Twitter user asked one of the bill's advocates, VP and CEO of Republicans Overseas, Solomon Yue, about a possible re-introduction of the bill for the 2019 session of Congress. Mr Yue responded via Twitter, suggesting that "#TFFAAA will be reintroduced as Tax Fairness For Americans Abroad Act of 2019 after Govt shutdown is over, a bigger bill is identified, & a Dem co-sponsor is secured in the House. We still need a bipartisan 2 enact #TFFAAA2019."
#TFFAAA will be reintroduced as Tax Fairness For Americans Abroad Act of 2019 after Govt shutdown is over, a bigger bill is identified, & a Dem co-sponsor is secured in the House. We still need a bipartisan 2 enact #TFFAAA2019. https://t.co/HJQBFc6hdb— Solomon Yue (@SolomonYue) 7 January 2019
Although these are three big hurdles to overcome, (for starters, President Trump has suggested the Government Shutdown could last for years), Mr Yue's comment will offer renewed hope for US Citizens residing overseas who have been advocating for an end to Citizenship Based Taxation.
We await more developments ...