[Congressional Record Volume 171, Number 11 (Monday, January 20, 2025)]
[Extensions of Remarks]
[Page E49]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 SUPPORT FOR H.R. 33, UNITED STATES-TAIWAN EXPEDITED DOUBLE-TAX RELIEF 
                                  ACT

                                 ______
                                 

                       HON. CHRISTOPHER H. SMITH

                             of new jersey

                    in the house of representatives

                        Monday, January 20, 2025

  Mr. SMITH of New Jersey. Mr. Speaker, I wish to reiterate my strong 
support for normalizing our tax treatment of Taiwan and for legislation 
which passed this House last week on January 15, 2025, H.R. 33, the 
United States-Taiwan Expedited Double-Tax Relief Act, introduced by my 
good friend and colleague Jason Smith of Missouri.
  As this legislation notes, Taiwan's international status is 
``unique,'' and for far too long this bastion of democracy, 
constitutionalism and freedom on the front line facing Communist China 
has been disadvantaged by its irregular juridical status.
  It makes no sense to penalize Taiwanese investors while privileging 
investors from Communist China, especially when Taiwanese companies 
such as TSMC and Global Wafers are investing money so we can securely 
manufacture microchips and silicon wafers in the United States.
  This is not simply a fairness issue, but also a national security 
issue. Agents from Communist China are buying farmland near 
strategically-sensitive locations, and coopting our universities into 
becoming research arms of the People's Liberation Army. Meanwhile, 
Taiwan is investing tens of billions of dollars to build semiconductor 
factories in America at our invitation so we can help insulate 
ourselves from mainland Chinese pressure. The U.S. should be 
disincentivizing investment from Communist China while encouraging 
investment from democratic Taiwan--not the other way around--and this 
legislation goes a long way to balancing the scales.
  I also note that our American Chamber of Commerce in Taiwan strongly 
supports this legislation. This legislation will also strengthen 
bilateral investments between the United States and Taiwan.
  I thank Mr. Smith (of Missouri) and Speaker Johnson for making this 
legislation a priority so early this Congress. I call on the Senate to 
swiftly pass this important legislation.

                          ____________________