Don’t tax him—Don’t tax me—Tax the man behind the tree. A number of additional questionable issues also come up when running search terms related to FATCA.
The spending is strictly domestic infrastructure
The Foreign Account Tax Compliance Act (FATCA), was a portion of the domestic stimulus bill HR 2847 Hiring Incentives to Restore Employment (HIRE) Act. FATCA’s revenue is derived from US citizens overseas, whilst the stimulus is strictly domestic. Here is a spending breakdown applicable for a House version in December 2009.
$154.4 billion for infrastructure projects, aid to state and local governments to preserve public service jobs and additional assistance to those affected by the recession. The total includes $48.3 billion for highway construction, mass transit and other infrastructure projects. The Senate may take the legislation up early next year. The funding for infrastructure is broken down as follows:
•Army Corps of Engineers- Civil Works : $715 million
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