[Congressional Record Volume 169, Number 109 (Thursday, June 22, 2023)]
[Senate]
[Page S2209]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                          Amendment Withdrawn

  The amendment (No. 136) was withdrawn.
  Mr. SCHUMER. Mr. President, I ask for the yeas and nays.
  The PRESIDING OFFICER. The question is on agreeing to the resolution 
of ratification?
  Is there a sufficient second?
  There appears to be a sufficient second.
  The clerk will call the roll.
  The legislative clerk called the roll.
  Mr. DURBIN. I announce that the Senator from New Jersey (Mr. Booker) 
and the Senator from Delaware (Mr. Coons) are necessarily absent.
  Mr. THUNE. The following Senator is necessarily absent: the Senator 
from West Virginia (Mrs. Capito).
  The result was announced--yeas 95, nays 2, as follows:

                      [Rollcall Vote No. 172 Ex.]

                                YEAS--95

     Baldwin
     Barrasso
     Bennet
     Blackburn
     Blumenthal
     Boozman
     Braun
     Britt
     Brown
     Budd
     Cantwell
     Cardin
     Carper
     Casey
     Cassidy
     Collins
     Cornyn
     Cortez Masto
     Cotton
     Cramer
     Crapo
     Cruz
     Daines
     Duckworth
     Durbin
     Ernst
     Feinstein
     Fetterman
     Fischer
     Gillibrand
     Graham
     Grassley
     Hagerty
     Hassan
     Heinrich
     Hickenlooper
     Hirono
     Hoeven
     Hyde-Smith
     Johnson
     Kaine
     Kelly
     Kennedy
     King
     Klobuchar
     Lankford
     Lee
     Lujan
     Lummis
     Manchin
     Markey
     Marshall
     McConnell
     Menendez
     Merkley
     Moran
     Mullin
     Murkowski
     Murphy
     Murray
     Ossoff
     Padilla
     Peters
     Reed
     Ricketts
     Risch
     Romney
     Rosen
     Rounds
     Rubio
     Sanders
     Schatz
     Schmitt
     Schumer
     Scott (FL)
     Scott (SC)
     Shaheen
     Sinema
     Smith
     Stabenow
     Sullivan
     Tester
     Thune
     Tillis
     Tuberville
     Van Hollen
     Vance
     Warner
     Warnock
     Warren
     Welch
     Whitehouse
     Wicker
     Wyden
     Young

                                NAYS--2

       
     Hawley
     Paul

                             NOT VOTING--3

     Booker
     Capito
     Coons
  The PRESIDING OFFICER (Mr. Schatz). On this vote, the yeas are 95, 
the nays are 2.
  Two-thirds of the Senators present, a quorum being present, having 
voted in the affirmative, the resolution of ratification is agreed to.
  The resolution of ratification agreed to is as follows:
       Resolved, (two-thirds of the Senators present concurring 
     therein),

     SECTION 1. SENATE ADVICE AND CONSENT SUBJECT TO RESERVATIONS 
                   AND DECLARATIONS

       The Senate advises and consents to the ratification of the 
     Convention Between the Government of the United States of 
     America and the Government of the Republic of Chile for the 
     Avoidance of Double Taxation and the Prevention of Fiscal 
     Evasion with Respect to Taxes on Income and Capital, signed 
     at Washington February 4, 2010, with a Protocol signed the 
     same day, as corrected by exchanges of notes effected 
     February 25, 2011, and February 10 and 21, 2012, and a 
     related agreement effected by exchange of notes on February 
     4, 2010 (the ``Convention'') (Treaty Doc. 112-8), subject to 
     the reservations of section 2 and the declarations of section 
     3.

     SECTION 2. RESERVATIONS

       The advice and consent of the Senate under Section 1 is 
     subject to the following reservations, which shall be 
     included in the instrument of ratification:
       (1) Nothing in the Convention shall be construed as 
     preventing the United States from imposing a tax under 
     section 59A, entitled the ``Tax on Base Erosion Payments of 
     Taxpayers with Substantial Gross Receipts,'' of the Internal 
     Revenue Code (as it may be amended from time to time) on a 
     company that is a resident of the United States or the 
     profits of a company that is a resident of Chile that are 
     attributable to a permanent establishment in the United 
     States.
       (2) Paragraph 1 of Article 23 (Relief from Double Taxation) 
     of the Convention shall be deleted and replaced by the 
     following:
       ``1. In accordance with the provisions and subject to the 
     limitations of the law of the United States (as it may be 
     amended from time to time without changing the general 
     principle thereof):
       a) the United States shall allow to a resident or citizen 
     of the United States as a credit against the United States 
     tax on income applicable to residents and citizens the income 
     tax paid or accrued to Chile by or on behalf of such citizen 
     or resident. For the purposes of this subparagraph, the taxes 
     referred to in subparagraph b) of paragraph 3 and paragraph 4 
     of Article 2 (Taxes Covered), excluding taxes on capital, 
     shall be considered income taxes; and
       b) in the case of a United States company owning at least 
     10 percent of the aggregate vote or value of the shares of a 
     company that is a resident of Chile and from which the United 
     States company receives dividends, the United States shall 
     allow a deduction in the amount of such dividends in 
     computing the taxable income of the United States company.''

     SECTION 3. DECLARATIONS

       The advice and consent of the Senate under section 1 is 
     subject to the following declarations:
       (1) The Convention is self-executing.
       (2) In light of substantial changes made to the 
     international provisions of the 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.

      The PRESIDING OFFICER. The Senator from Texas.