Political Quotes

“Mr. Speaker, I rise today in support of the United States-Taiwan Expedited Double-Tax Relief Act. The bill, as we have been hearing, would align the tax treatment of income earned in the U.S. by Taiwanese residents and businesses with that of any other foreign national from a country with whom the United States has a tax treaty, preventing the double taxation of Taiwanese residents and businesses engaging in business with Americans. As we know, Taiwan is an important and strategic ally in the Indo- Pacific region, and a democratic success story, I might add a lowercase democratic success story, but we know that it is the eighth largest trading partner to our country. U.S. exports to Taiwan support hundreds of thousands of American jobs, and cumulative Taiwanese investment in the U.S. totals more than $137 billion. Taiwan also plays a critical role in our technology supply chains as we have been hearing and is certainly a key national security partner. Despite this, on the list of the 66 countries the U.S. currently has income tax treaties with, including China, Taiwan is conspicuously absent. Eliminating the undue double taxation of Taiwanese residents and businesses promotes economic efficiency and integration, strengthens our strategic partnership with Taiwan, and reinforces the long-term economic stability American businesses and our trusted allies need to invest for the future and combat the influence of bad actors.…”