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United States-Taiwan Expedited Double-Tax Relief Act

Floor Speech

Date: Jan. 15, 2025
Location: Washington, DC

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Mr. DAVIS of Illinois. Mr. Speaker, I thank the gentlewoman for yielding.

Mr. Speaker, I rise in support of H.R. 33, the United States-Taiwan Expedited Double-Tax Relief Act. This bill represents a bilateral tax agreement that prevents doubling taxation on U.S. and Taiwanese businesses and workers.

This bill helps promote Taiwanese investment in the United States and job creation. The bill provides benefits to Taiwanese residents similar to those provided in the 2016 U.S. model tax treaty.

Importantly, these new provisions do not take effect until Taiwan offers American residents the same benefits. The bill, H.R. 33, would strengthen trade relations, increase manufacturing production, boost innovation, create economic growth for the U.S. and Taiwan, and allow our country to compete more effectively with China by increasing trade and business commerce in both goods and services.

Mr. Speaker, I encourage all of my colleagues to vote ``yes'' for H.R. 33. It is good for Americans, as well as Taiwanese, and good for both countries.

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