In the third quarter of this year, 1,376 Americans renounced their U.S. citizenship, putting the annual tally on track to top 2016’s record, data from the Treasury Department show. If this year’s fourth quarter mirrors that of 2016, when 2,365 people chose to expatriate, 2017’s annual tally would be 6,813. That’s a 26 per cent rise from 2016’s total of 5,411 — which was itself a 26 per cent jump from 2015. The pace of Americans jumping ship started to accelerate in 2010, when the Foreign Account Tax Compliance Act (Fatca) became law. However, a significantly larger proportion of Democrats (73 per cent) reported feeling stress than independents (59 per cent) and Republicans (56 per cent).

Source: National Post November 02, 2017 18:11 UTC