Senate Finance Committee Chairman Ron Wyden (D-Ore.) and Ranking Member Mike Crapo (R-Idaho) today released the following statement announcing that the committee will meet in September to mark up tax legislation strengthening our economic relationship with Taiwan:
“Shortly after Congress returns from the upcoming state work period, the Finance Committee will convene to consider bipartisan tax legislation strengthening the economic partnership between the United States and Taiwan. The Senate recently demonstrated its strong support for Taiwan when it unanimously passed the first trade agreement signed under the U.S.-Taiwan Initiative on 21st-Century Trade. Given Taiwan’s unique status, the Finance Committee has worked together with our colleagues on the House Ways and Means Committee to find creative ways to promptly extend significant tax treaty-like benefits for American and Taiwanese workers and businesses operating across our borders. It’s an opportunity to help workers and businesses of all sizes get ahead in both the U.S. and Taiwan by addressing double taxation and encouraging more cross-border investment. We look forward to moving this legislation forward in a bipartisan manner.”
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