[Congressional Record (Bound Edition), Volume 154 (2008), Part 3]
[Senate]
[Page 4318]
[From the U.S. Government Publishing Office, www.gpo.gov]




      REMOVAL OF INJUNCTION OF SECRECY--TREATY DOCUMENT NO. 110-15

  Mr. REID. As in executive session, I ask unanimous consent that the 
injunction of secrecy be removed from the following treaty transmitted 
to the Senate on March 13, 2008, by the President of the United States:

       Protocol Amending 1980 Tax Convention with Canada (Treaty 
     Document No. 110-15).

  I further ask that the treaty be considered as having been read the 
first time; that it be referred, with accompanying papers, to the 
Committee on Foreign Relations and ordered to be printed; and that the 
President's message be printed in the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The message of the President is as follows:

To the Senate of the United States:
  I transmit herewith, for Senate advice and consent to ratification, 
the Protocol Amending the Convention Between the United States of 
America and Canada with Respect to Taxes on Income and on Capital done 
at Washington on September 26, 1980, as Amended by the Protocols done 
on June 14, 1983, March 28, 1984, March 17, 1995, and July 29, 1997, 
signed on September 21, 2007, at Chelsea (the ``proposed Protocol''). 
The proposed Protocol would amend the existing income tax Convention 
between the United States and Canada that was concluded in 1980, as 
amended by prior protocols (the ``existing Treaty''). Also transmitted 
for the information of the Senate is the report of the Department of 
State with respect to the proposed Protocol.
  The proposed Protocol would eliminate withholding taxes on cross-
border interest payments. In addition, the proposed Protocol would 
coordinate the tax treatment of contributions to, and other benefits 
of, pension funds for cross-border workers. The proposed Protocol also 
includes provisions related to the taxation of permanent 
establishments, so-called dual-resident corporations, income derived 
through certain entities that are considered fiscally transparent, and 
former U.S. citizens and long-term residents. The proposed Protocol 
further strengthens the existing Treaty's provisions that prevent the 
Treaty's inappropriate use by third-country residents. The proposed 
Protocol also provides for mandatory resolution of certain cases before 
the competent authorities.
  I recommend that the Senate give early and favorable consideration to 
the proposed Protocol and give its advice and consent to ratification.
                                                      George W. Bush.  
The White House, March 13, 2008.

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