New Democratic-led legislation aimed at penalizing those who would renounce their U.S. citizenship to dodge taxes has provoked fiery criticism from influential conservatives and is putting Republican leaders in a politically precarious situation.

Inspired by the actions of Eduardo Saverin, the Facebook co-founder who renounced his citizenship ahead of a large tax payment associated with the company’s much-ballyhooed initial public offering, Sens. Chuck Schumer (D-NY) and Bob Casey (D-PA) unveiled a bill Thursday to force such tax-dodgers to pay a 30 percent tax rate on all future U.S. investments and ban them from ever setting foot in the country again.