Political Quotes

“Mr. President, I thank Ranking Member Risch for his leadership in completing the resolution approving the ratification of this tax convention with Chile. And specifically, I am grateful for the opportunity to work together to include the following declaration in this resolution: ``In light of substantial changes made to the international provisions of Internal Revenue Code in 2017, the Senate declares that future tax treaties need to reflect such changes appropriately, including in Article 23. Therefore, based on discussions with the U.S. Department of the Treasury, additional work is required to evaluate the policy of Article 23 in addressing relief of double taxation and to agree on whether further changes to the terms of the Article are necessary for future income tax treaties.'' In light of the reservation amending article 23, I yield to the ranking member of the Senate Foreign Relations Committee to elaborate on the importance of this declaration.”