House Speaker John BoehnerJohn Andrew BoehnerSpeculation mounts, but Ryan’s job seen as safe Boehner warns Trump: Don't pull out of Korea-US trade deal GOP Rep: Ryan wasting taxpayers dollars by blocking war authorization debate MORE (R-Ohio) said Sunday supported legislation to punish individuals who renounced their citizenship in order to avoid paying U.S. taxes, but said such measures were already law.

"There's already a law in the books," John BoehnerJohn Andrew BoehnerSpeculation mounts, but Ryan’s job seen as safe Boehner warns Trump: Don't pull out of Korea-US trade deal GOP Rep: Ryan wasting taxpayers dollars by blocking war authorization debate MORE told ABC's George Stephanopoulos in an interview on ABC's "This Week." "It's already against the law."

Democratic Sens. Chuck SchumerCharles (Chuck) Ellis SchumerSenate Dems hold floor talk-a-thon against latest ObamaCare repeal bill This week: Senate wrapping up defense bill after amendment fight Cuomo warns Dems against cutting DACA deal with Trump MORE (N.Y.) and Bob CaseyRobert (Bob) Patrick CaseySenate Dems hold floor talk-a-thon against latest ObamaCare repeal bill GOP eying 'blue slip' break to help Trump fill the courts Dems offer alternative to Trump administration's child care proposal MORE Jr. (Pa.) announced legislation last week designed to punish people who renounce their citizenship in order to dodge taxes. 

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Their bill, the Ex-Patriot Act, is a direct response to Eduardo Saverin, the co-founder of Facebook, who renounced his U.S. citizenship last year, and the senators had harsh words for what they called Saverin's "scheme" to avoid paying taxes on his interest in the company, which went public last week. 

Saverin's move saved him an estimated $67 million to $100 million in taxes. The wealthy technology investor however has said his change in citizenship was not an effort to avoid American taxes.

Boehner on Sunday said it is "absolutely outrageous" for anyone to renounce their citizenship in order to avoid taxes.

The Casey and Schumer legislation would punish any individual who renounces their citizenship and holds a net worth of $2 million or an average income tax liability of $148,000 over the last five years.

If the Internal Revenue Service determines that person gave up their passport for primarily tax reasons, the person's U.S. assets would be taxed at 30 percent and they would be barred from ever re-entering the United States.

Sen. Orrin HatchOrrin Grant HatchFinance to hold hearing on ObamaCare repeal bill Overnight Finance: CBO to release limited analysis of ObamaCare repeal bill | DOJ investigates Equifax stock sales | House weighs tougher rules for banks dealing with North Korea Week ahead in finance: Clock ticking for GOP on tax reform MORE (R-Utah), the ranking member of the Senate Finance Committee, said his Democratic colleagues were overlooking the "root cause" of Saverin's actions. A spokesperson from his office released a statement last week saying that wealthy expatriates seeking to renounce their American citizenship is a sign that the tax code needs to be fixed.