[Congressional Record Volume 168, Number 121 (Thursday, July 21, 2022)]
[Senate]
[Page S3613]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         SUBMITTED RESOLUTIONS

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SENATE RESOLUTION 715--EXPRESSING THE SENSE OF THE SENATE ON THE VALUE 
                     OF A TAX AGREEMENT WITH TAIWAN

  Mr. SASSE (for himself and Mr. Van Hollen) submitted the following 
resolution; which was referred to the Committee on Foreign Relations:

                              S. Res. 715

       Whereas Taiwan is a democratic success story, an economic 
     success story, a key part of global technology supply chains, 
     and a close security partner of the United States;
       Whereas the United States has pursued a robust unofficial 
     partnership with Taiwan within the context of the current 
     one-China policy of the United States;
       Whereas the Taiwan Relations Act (Public Law 96-8) has 
     played an important role in promoting democracy and 
     prosperity in Taiwan, peace and security in the Taiwan 
     Strait, and close relations between the United States and 
     Taiwan since 1979;
       Whereas Taiwan is the eighth-largest trading partner of the 
     United States, United States exports of goods and services to 
     Taiwan support at least 188,000 American jobs, and Taiwan's 
     cumulative investment in the United States is at least 
     $13,700,000,000;
       Whereas the United States has ongoing economic dialogues 
     with Taiwan that cover a range of trade, technology, and 
     investment issues through the Trade and Investment Framework 
     Agreement Council led by the United States Trade 
     Representative, the U.S.-Taiwan Economic Prosperity 
     Partnership Dialogue led by the Department of State, and the 
     Technology, Trade, and Investment Collaboration framework led 
     by the Department of Commerce;
       Whereas the Biden Administration announced the ``U.S.-
     Taiwan Initiative on 21st Century Trade'' on June 1, 2022;
       Whereas the United States has income tax treaties with 66 
     countries, including the People's Republic of China, and has 
     agreements with other parties, including Taiwan, related to 
     taxation, such as facilitating implementation of the Foreign 
     Account Tax Compliance Act;
       Whereas Taiwan is the United States' largest trading 
     partner with whom we do not have an income tax treaty;
       Whereas Taiwan has income tax agreements with 34 countries, 
     including countries that have trade agreements with the 
     United States and do not maintain diplomatic relations with 
     Taiwan;
       Whereas the United States signed a transportation income 
     tax agreement with Taiwan in 1988, under the auspices of the 
     American Institute in Taiwan (AIT) and the Coordination 
     Council for North American Affairs, which has since been 
     renamed as the Taipei Economic and Cultural Representative 
     Office (TECRO);
       Whereas an income tax agreement between the United States 
     and Taiwan could boost bilateral trade and investment by 
     reducing double taxation and increasing economic efficiency 
     and integration; and
       Whereas the American Chamber of Commerce in Taipei in its 
     ``2022 White Paper'' called for the United States and Taiwan 
     to continue exploring an income tax agreement: Now, 
     therefore, be it
       Resolved, That the Senate--
       (1) recognizes the importance of Taiwan's security and 
     prosperity to the United States' own security and prosperity;
       (2) encourages the President to begin negotiations on an 
     income tax agreement with Taiwan;
       (3) encourages the President and the House of 
     Representatives to work with the Senate on a congressional-
     executive agreement to establish an income tax agreement 
     between the United States and Taiwan, consistent with United 
     States commitments under the Taiwan Relations Act; and
       (4) encourages the President to proactively seek other ways 
     to increase trade, technology, and investment ties between 
     the United States and Taiwan.

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