Huffpost Politics
Ryan Grim Headshot

Eduardo Saverin Bill Backed By John Boehner

Posted: Updated:

WASHINGTON -- Eduardo Saverin's decision to renounce his United States citizenship in order to avoid paying taxes on his Facebook stock was "absolutely outrageous," House Speaker John Boehner (R-Ohio) told ABC's George Stephanopolous on "This Week."

Boehner said that his move was "already against the law," likely referring to legislation written in the 1990s by now-Sen. Jack Reed (D-R.I.).

Saverin, a Facebook cofounder, could save tens or hundreds of millions in taxes by ditching his American citizenship. In a statement responding the outcry, Saverin said that it was unfortunate that his personal decision had created "a public debate." But if there is a debate about his behavior, it's decidedly one-sided, with everyone from Boehner to Democratic Sen. Chuck Schumer on the same side, and Saverin and Rush Limbaugh on the other.

Last week, Schumer and Democratic Sen. Bob Casey (D-Pa.) introduced legislation that would make Saverin responsible for his future taxes and bar him from ever visiting the United States.

Boehner said that the legislation was unnecessary, given the law on the books, but that he would support it nonetheless.

"If it's necessary, I'd surely support it," Boehner concluded.

CORRECTION: An earlier version of this article incorrectly stated that Jack Reed is a Republican. He is a Democrat.

Around the Web

Eduardo Saverin - Forbes

The Folly Of Eduardo Saverin - Forbes

On Eve Of Facebook IPO, Eduardo Saverin Fires Back At Critics ...

Senators Go After Eduardo Saverin, Facebook Co-Founder, For ...

Eduardo Saverin | CrunchBase Profile

Senators to Saverin: Don't come back. Ever. - Economy

Eduardo Saverin controversy: Slam the door on tax refugees ...

Relinquishing US Citizenship

Facebook's Eduardo Saverin To Host "America's Next Top Tax Lawyer"

Eduardo Saverin congratulates Mark Zuckerberg over Facebook

Letters: Going after tax refugees

HUFFPOST HILL - Eduardo Saverin Is The Worst And Everyone Hates Him

Facebook's Saverin Says Tax Bill to Be Hundreds of Millions

Two senators want to stop Facebook's Saverin from dodging taxes

Saverin's Facebook Stake Worth $2 Billion, SEC Filing Shows

Facebook's Saverin fires back at tax-dodge critics

The Saverin Lesson