Sen. Paul Introduces Bill That Would Weaken US Tax Evasion Law

Not a fan of The Foreign Account Tax Compliance Act

(Reuters)—U.S. Senator Rand Paul introduced a bill late on Tuesday that would repeal parts of a 2010 law designed to fight offshore tax evasion by Americans with assets hidden in foreign banks.

The Foreign Account Tax Compliance Act (FATCA) is being implemented worldwide through a series of agreements between the U.S. government and other governments and foreign banks.