Rep. Chu Joins Introduction of Bipartisan, Bicameral Taiwan Tax Legislation

WASHINGTON, D.C. — Today, Ways and Means Ranking Member Richard E. Neal (MA-01), Ways and Means Chairman Jason Smith (MO-07), Senate Finance Committee Chair Ron Wyden (OR), and Senate Finance Committee Ranking Member Mike Crapo (ID) formally introduced legislation to relieve double-taxation of investments between the United States and Taiwan. Rep. Judy Chu (CA-28) is an original cosponsor of this bill.

In May, Rep. Chu joined Reps. Suzan DelBene (WA-01), Adrian Smith (NE-03), and Nicole Malliotakis (NY-11) to introduce H.Res. 449, a bipartisan resolution calling for legislation to avoid double taxation between the U.S. and Taiwan.

Rep. Chu released the following statement on the introduction of the U.S.-Taiwan Expedited Double Tax Relief Act:

“Particularly after a bipartisan group of Ways and Means colleagues and I advocated for it, I’m so grateful to see a bipartisan and bicameral legislative effort introduced today by tax-writing committee leadership that will alleviate double taxation between the U.S. and Taiwan. The U.S.-Taiwan Expedited Double Tax Relief Act would create more jobs here at home and invigorate our nations' manufacturing production, while strengthening a national security partner’s economy and promoting more mutual investment. Across the country, including in the San Gabriel Valley, our economic ties with Taiwan are strong, and I am working to make them even stronger. I am hopeful this consensus bill will soon be on President Biden's desk for signature and ultimately further deepen economic collaboration and investment between our two democracies.”