[KnowItAll]

From http://www.iht.com/articles/2006/06/15/news/tax.php

A Republican senator has introduced legislation to eliminate the cap on income that Americans working abroad can earn without having to pay both local and U.S. taxes on it, a change meant to make American businesses more competitive and bring the U.S. system in line with those of other industrialized countries.

[Sleuth]

Almost the opposite of the previous expat tax change. The US business lobby is rolling.

[KnowItAll]

Well, might as well get a few things fixed before handing the white house back to the clintons.

[HKFella]

Drat! There goes Bush's unexpected gift to us non-US expats, and then some!

[penguinsix]

There is no way in hell this will pass.

Overseas expats, generally making over $100,000 a year, are a not a very strong lobby in the US. They don't deliver a lot of votes, and not many people in Washington really care about their plight. "Another tax break to the rich". That's all you have to say and the bill will die. It doesn't even have to be true, but given the appearance of benefiting a few instead of the "hardworking union man in Detroit" and it is over.

There is a far great chance of the 80k exemption being pulled than there is of this bill passing.

Sorry to say, but it is the truth.

[KnowItAll]

Well, sometimes you have to threaten ridiculous things to make feasible things happen...

[Krad]

I'm sorry, but which America have you been living in the last 6 years? Let's just say this won't be the first tax break passed for the rich in recent history.

And even though overseas expats may not be a huge lobby, the companies that employ them *are*.

Doesn't really matter either way for me though....I'm so poor I don't qualify for either the housing exemption or this cap removal.

Originally Posted by penguinsix

There is no way in hell this will pass.

Overseas expats, generally making over $100,000 a year, are a not a very strong lobby in the US. They don't deliver a lot of votes, and not many people in Washington really care about their plight. "Another tax break to the rich". That's all you have to say and the bill will die. It doesn't even have to be true, but given the appearance of benefiting a few instead of the "hardworking union man in Detroit" and it is over.

There is a far great chance of the 80k exemption being pulled than there is of this bill passing.

Sorry to say, but it is the truth.

[Sleuth]

If there were no tax breaks for the rich, the Senate would have to pay taxes.