Will Trump Keep His Promise on Double Taxation? What It Means for American Citizenship

- Residency-Based Taxation (RBT): This system, which aligns with what most countries practice, would tax only U.S.-based income, effectively eliminating tax obligations for expats on their foreign earnings.
- Increased Tax Exemptions or Credits: While the FEIE currently allows for certain exclusions, expanding this exclusion or creating more substantial credits could alleviate tax pressures for Americans abroad.
- Simplified FATCA Compliance: The burden of reporting foreign bank accounts has been criticized for deterring Americans from living abroad. Streamlining or relaxing FATCA could reduce the paperwork and potential penalties.

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Final Thoughts: Will Trump’s Election Bring True Change?
As Trump begins his term, the question of double taxation reform will be a closely watched topic by Americans abroad. Whether or not he follows through with substantial changes could determine if expatriates will hold onto their U.S. passports or opt for citizenship alternatives. For now, expats can only wait and hope that Trump’s return to the White House signals a fresh approach to tax policies that many believe are outdated.
For Americans abroad, the next few years could reveal if Trump’s promises translate into meaningful tax reform or remain campaign rhetoric.
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