“Republican National Committee members are drafting a resolution calling for the repeal of a soon-to-be-implemented tax law that critics say is contributing to Americans living abroad renouncing their U.S. citizenship in record numbers.  The law was designed to catch tax American cheats hiding financial assets overseas.  But many of the more than six million Americans living abroad say FATCA has made life difficult for them because several foreign banks, not wanting to deal with the IRS, are turning away American customers or closing accounts of existing U.S. clients.  The situation has become so dire that more and more expats are dropping their U.S. citizenship.”

http://www.mcclatchydc.com/2013/12/06/210878/rnc-members-tackle-fatca.html

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