Thank you, Mr. Chairman.
Welcome back to our witnesses. We're going to see quite a bit of one another in the next few finance committee meetings. I want to revisit FATCA. I'm listening to the sky is falling scenario coming from the opposition and I just can't quite buy it. So I want to ask what I think are pretty straightforward questions.
American citizens have always had a responsibility to report income in the States, and report earnings, and to pay tax, or to, I should say, file a tax return in the U.S. Is that correct?