Title

FATCA, the U.S. Congressional Black Caucus, and the OECD Blacklist

Document Type

Article

Publication Date

7-2-2020

ISSN

2688-6480

Publisher

Tax Analysts

Language

en-US

Abstract

It may no longer be fashionable to refer to the United States as a melting pot, but it remains an incredibly heterogenous country. Both in terms of the race of those born there and the national origin of its immigrants, the United States has long enjoyed the benefits and burdens that come with diversity.1 Its diversity can make even a seemingly simple story complicated, producing unexpected twists and surprise endings. This article tells a tale in which diversity helped change the face of international tax policy.

The United States has long wielded great power in international taxation. From the controlled foreign corporation to the Foreign Account Tax Compliance Act, the United States has proven time and again that when it wants to it can fundamentally alter the rules of the international tax game. And from a distance that outsized influence suggests a monolith. But the view from up close reveals something quite different.

Over the last two decades, a pair of dramatic international tax policy shifts highlights how — and how much — race matters in the United States. At two pivotal moments in the last quarter-century of international tax policy, Black leaders in the United States did the unexpected. And the results both in the United States and around the world proved as powerful as they would ultimately be misunderstood.

Comments

Originally published in Revue Européenne et Internationale de Droit Fiscal N. 2021/1

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