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FATCA was set up to catch tax cheats. Unfortunately, it is greatly disrupting the lives of Americans living abroad who use accounts in foreign banks to do ordinary things like pay bills and save for the future.
Democrats Abroad, in collaboration with other organisations of overseas Americans, supports the Same Country Exception.
When added to the FATCA implementation rules, the Same Country Exception will exempt overseas-resident U.S. citizens and their banks from FATCA reporting on accounts in our countries of residence.
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