NEWS

Rand Paul, the Kentucky senator and 2016 Republican presidential hopeful, is leading an effort to repeal a tax law prized by President Obama but despised by millions of Americas who live and work outside the United States.

Mr. Paul formally introduced legislation this month in the Senate to reverse the main requirements of the Foreign Account Tax Compliance Act, saying the law has wrongly deprived American ex-patriots of access to banking services, violated their privacy and forced many to renounce their citizenship.

“Not only is FATCA dangerous with respect to the privacy protections owed to every American — home or abroad — it has threatened the livelihood of millions of Americans working or living overseas,” Mr. Paul said.

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