71. The Exclusive Citizenship Act of 2025: Inaction Could Mean Losing Your US Citizenship

Proposed policy changes in the US could result in increased taxation for American dual citizens, green card holders, and Americans living abroad. From forced loss of US citizenship by inaction, to deemed expatriations, exit taxes on worldwide assets and foreign pensions, and potential impacts on Social Security and even US military pensions, the ripple effects of the proposed Exclusive Citizenship Act of 2025 are far-reaching and, in many cases, devastating. 

 

Richard Taylor – dual UK/US citizen and Chartered Financial Planner – is joined by Virginia La Torre Jeker – US international tax attorney - to unpack what the Exclusive Citizenship Act of 2025 could mean, even if it never passes through Congress. They explore how the proposal could transform the expat experience for Americans and other immigrants in the US, compare it to existing immigration and tax rules, and examine how exit taxes may apply to anyone who loses or renounces US citizenship or green card status. 

 

In this episode of Expat Wealth, Richard and Virginia discuss: 

 

How the Exclusive Citizenship Act of 2025 would require dual citizens in the US to renounce all non-US citizenship within 12 months or be deemed to have voluntarily lost US citizenship. 

 

How Supreme Court precedent bars Congress from stripping citizenship without voluntary intent, and how this bill attempts to bypass that protection.  

 

What forced expatriation could mean for dual citizens, Americans abroad, and green card holders, including exit taxes on worldwide assets, punitive treatment of foreign pensions, and potential loss of Social Security or military pensions. 

  

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Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management. 

 

https://planfirstwealth.com/ 

 

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Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.   

 

Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.