Likely will take a long time to implement if it passes, but may turn out to be similar to Canada’s tax system where you can declare to become a non resident (and be assessed exit tax at time of declaration).
Introduced, doesn’t mean it will pass.
The problem is the US government, unlike Taiwan, doesn’t have container loads of money. So they really can’t afford to reduce their tax revenue.
I like to be optimistic for most of you guys, but I’m not holding out hope either.
Not going to happen. The U.S. tax system is needlessly complex which makes it less efficient which leads to hundreds of billions in lost potential tax revenue, but… Tax preparation companies keep successfully lobbying Congress to keep it complex.
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I think the first questions people will ask are.
How much are they making from expats, and where would they make up any shortfall if they lost this income.
Then when someone twists this into “I’m going to pay more tax because people living abroad don’t want to”, it will be kicked into the long grass.
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That angle is a non-sequiter though. Expats are not consuming domestic resources of the U.S., but that of the host country.
Hopwfully people in congress have enough braincells and spinal strength combined to put the two poeces together, but that would require some altruism not typically found inside the beltway.
(/complaint over)
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I’m not saying it’s the correct argument, I’m just seeing it as the quotes that will fly around twitter and FB.
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At least there is a decent exclusion for foreign earned income. Seems like it could be good to extend that exclusion to unearned income for expats as well, such as Social Security and pre-tax retirement account distrubutions. Encourage people to retire abroad and not use government resources 
I could be persuaded.
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Wild.