My fellow Republicans,

Senator Cruz just released the following position in favor of repealing FATCA:

FATCA (Foreign Account Tax Compliance Act)

“The Foreign Account Tax Compliance Act (FATCA) has burdened the millions of Americans living overseas and their businesses by restricting access to banks, insurance, and financial services. FATCA should be repealed. There are better ways to ensure tax compliance that do not involve threatening the livelihoods of our fellow citizens living abroad. The good news is that my plan to replace the tax code with a simple, single-rate 10 percent tax will make tax compliance dramatically easier, abolishing the IRS as we know it, and thereby reducing evasion.”