CONGRESS FOR VOTERS

Jason Smith (R-MO)

To amend the Internal Revenue Code of 1986 to provide special rules for the taxation of certain residents of Taiwan with income from sources within the United States.

H.R. 33 · House bill Taxation

A Republican bill with 16 Democratic cosponsors · See all 46 cosponsors

Last activity — Received in the Senate and Read twice and referred to the Committee on Finance.

In the other chamber's committee

Passed one chamber and has been handed to a committee in the other.

The committee decides whether it goes any further, and most bills that reach a committee never leave it. A committee that simply does nothing kills a bill without anyone ever voting against it, so no news from here is usually the news.

Its path through Congress

  1. Introduced
  2. Passed House 423–1
  3. In Senate committee

What this bill would do

This bill, titled the "United States-Taiwan Expedited Double-Tax Relief Act," amends the Internal Revenue Code to create special tax rules for qualified residents of Taiwan. It establishes reduced tax rates for certain income, such as interest, dividends, and royalties, provided specific conditions are met. Additionally, the bill provides tax relief for qualified wages and certain income from entertainment or athletic activities. It also establishes rules for income connected to a United States permanent establishment. Finally, the act authorizes the President to negotiate and enter into a formal tax agreement with Taiwan to address double taxation issues.

Yes· 3 of 6

  • Scored +6

    Does this strengthen ties with allied countries?

    The bill strengthens economic and diplomatic ties between the United States and Taiwan through specialized tax relief.

  • Scored +5

    Does this cut the tax on profits from selling investments?

    The bill reduces the tax rate on certain gains received by qualified residents of Taiwan.

  • Scored +5

    Would business owners be better off under this?

    The bill provides significant tax relief for corporate entities and residents of Taiwan conducting business in the US.

The opposite

No question was scored the opposite.

What Congress actually voted on

One recorded vote has been taken on this bill.

  • The House: the vote on whether to pass the bill This is the real decision in this chamber. Passing here sends the bill to the other chamber, which must pass it too before it can go to the President. Passed 423 yes · 1 no

    See who voted how →

    01/15/2025 · Roll call 15 · recorded as “On Passage”