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Posted by Democrats Abroad on Wednesday, January 15, 2020
With respect to U.S. FATCA and Citizenship-based taxation, her answers were:
1. FATCA: She would direct Treasury to take the necessary steps to alleviate the problems that Americans abroad experience with banking access.
2. Citizenship-based taxation: Bear in mind that the DA question always includes (1) a recognition that revenue neutrality is possible and (2) that any remedial legislation must be carefully constructed to “prevent abuse” (whatever that means). Ms. Gabbard said:
– in principle she believes in a move to residence-based taxation
– it must be constructed in such a way that the wealthy don’t leave the USA to avoid U.S. taxation
– it MUST be revenue neutral