Political Quotes

“Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in strong support of H.R. 33, the United States- Taiwan Expedited Double-Tax Relief Act. I thank Ranking Member Neal and Chairman Smith for working on this significant legislation, which was reported out of the Ways and Means Committee unanimously last Congress. I also thank Representative Suzan DelBene as well as Representatives Adrian Smith and Nicole Malliotakis for their partnership. Together, we introduced a resolution last Congress calling to advance legislation to address that barrier, the issue of double taxation on income earned in the United States and Taiwan. Today, Americans who do business in Taiwan, and those from Taiwan who do business from America, must pay income tax in both places on the same earnings. That hurts businesses of all sizes, as well as individuals who spend time in each market. For example, without a double-tax treaty, workers from the United States who are sent to Taiwan to train for their jobs in a domestic chip facility can be taxed twice on the income they earn on that trip. The U.S. has eliminated this problem through bilateral income tax treaties with more than 60 countries, but not with Taiwan. That is because of its unique political status which prevents us from negotiating a traditional tax treaty. As a result, among our top 10 trading partners, only Taiwan lacks a double-tax agreement.…”