Campaigning group reminds Trump of double-taxation pledge | The American
Posted by Aca Admin on December 05, 2024
The American, December 5, 2024
Campaigning group reminds Trump of double-taxation pledge
"On October 9, President-elect Trump said that his vision for the United States 'includes Americans abroad: I support ENDING the double-taxation of overseas Americans!' American Citizens Abroad (ACA), an advocacy group promoting the interests of American expats, has launched a 100-day campaign to remind him of this promise.
The campaign, ACA says, is 'aimed at enacting President-elect Trump’s pledge to end the onerous double taxation of US citizens living and working overseas. This promise can be kept by reforming US tax policy to adopt Residence-Based Taxation (RBT). Having previously demonstrated that adopting RBT is revenue neutral, ACA will work with its thousands of individual members and a broad, bi-partisan coalition of incoming Administration officials, Congressional representatives, legislative staff, tax experts, and economists to finally achieve this goal when the Tax Cuts and Jobs Act (TCJA) is brought up for renewal.'
The group’s Executive Director, Marylouise Serrato, said, 'ACA is moving quickly to ensure that following through on the promise to deliver tax reform for overseas Americans is among the priorities for the incoming Administration. Members of Congress and their staff rely on ACA research as they consider draft legislation for RBT. Our research shows that adopting RBT can easily be done by modifying existing tax provisions without costing the US Treasury a dime.'"