Tags: rand | paul | rnc | expats

Rand Paul, RNC Launch Push for Expat Vote

Image: Rand Paul, RNC Launch Push for Expat Vote

Wednesday, 15 Jan 2014 10:53 PM

By Todd Beamon

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The Republican National Committee hopes to give Democrats a dose of their own medicine by registering American voters abroad and assisting Sen. Rand Paul's fight to restore privacy rights and financial relief to them, The Washington Times reports.

"For many years, the Democrat Party used its overseas group, Democrats Abroad, as a political weapon against our candidates in elections," Bruce Ash, a committee member from Arizona, said in a letter quoted by The Times.

Urgent: Do You Approve Or Disapprove of President Obama's Job Performance? Vote Now in Urgent Poll

"In fact, just last month when Cory Booker won his U.S. Senate contest in New Jersey, he proudly thanked Democrats Abroad, who helped him win his election," Ash said.

The committee's new effort, Republicans Overseas, will be chaired by Ash. It would register expatriates as GOP voters while the committee works to repeal a 2010 law that has driven hundreds of such individuals to renounce their U.S. citizenship, the Times reports.

In his letter, Ash said the law takes a big bite out of expatriates' finances by "seizing 30 percent of their bank deposits without due process, and by causing foreign banks to deny financial services to overseas Americans as clients in order to avoid incurring the extra costs of complying with the U.S. law."

Key committee members are backing the law's repeal — and the full RNC is scheduled to vote on it at the party's annual winter meeting next week, the Times reports.

At least 7.6 million U.S. citizens work and live abroad, according to State Department figures from last May quoted by the Times.

"The law as it stands forces U.S. citizens to make a modern-day’s 'Sophie's Choice' between their love for their country by not renouncing citizenship and their love for their families by continuing to provide for them without banking services," Solomon Yue, a committee member from Oregon, told the Times.

But unlike the RNC's effort toward full repeal of the Foreign Accounts Tax Compliance Act of 2010, Paul, the Kentucky Republican, is fighting to reverse only some of the law's provisions, the Times reports.

The legislation, passed by a Democratic-controlled Congress, requires financial institutions overseas to provide the Internal Revenue Service with annual reports on their U.S. account holders.

The law, aimed at expatriates holding $50,000 or more in their banks, was enacted to prevent Americans from evading taxes. But Americans with dual citizenship are up in arms, and have been dumping their U.S. passports at record rates, according to news reports.

Financial institutions in foreign countries face "increased costs associated with IRS reporting requirements," Ash said in his letter. "As a result, those Americans are forced to choose between their citizenship and their right to privacy and livelihood."

Urgent: Do You Approve Or Disapprove of President Obama's Job Performance? Vote Now in Urgent Poll

Related Stories:

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Giuliani to Help Fight Noriega's Video Game Suit

Monday, 22 Sep 2014 11:52 AM

Former New York City Mayor Rudy Giuliani is joining a video game company's legal fight against disgraced Panamanian dict . . .

Israel Spy Agency Launches Online Recruitment Drive

Monday, 22 Sep 2014 11:26 AM

Israel's secretive overseas spy agency, the Mossad, launched a new website Monday to recruit potential spooks, as well a . . .

David Gergen: ISIS War Rollout Akin to Obamacare Rollout

Monday, 22 Sep 2014 10:59 AM

The rollout of President Barack Obama's strategy to fight the Islamic State (ISIS) has been dogged by problems comparabl . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved