House passes Kelly-backed United States-Taiwan Expedited Double-Tax Relief Act

Image January 16, 2025 Press Release WASHINGTON, D.C. -- On Wednesday, January 15, the U.S. House overwhelmingly approved the United States-Taiwan Expedited Double-Tax Relief Act, legislation that aims to spur greater investment in manufacturing jobs in America – particularly when it comes to semiconductor and chip production – strengthen U.S. supply chains to reinforce the nation’s security, and combat China’s harmful influence. The legislation passed 423-1. Currently, Taiwan is the United States' largest partner without a tax treaty. "America should not have to rely on foreign adversaries like China for our supply chains when we can partner with better allies like Taiwan," Rep. Kelly said. "As conflicts continue to rise across the globe, we must build our relationships with strong democracies, like Taiwan." BACKGROUND American workers and businesses will benefit from deepening the U.S. economic relationship with Taiwan. In 2019, U.S. exports to Taiwan supported an estimated 188,000 American jobs. Taiwanese investment directly supports nearly 21,000 jobs in the United States and $1.5 billion in U.S. exports. Establishing a tax treaty with Taiwan encourages U.S. based semiconductor and chip manufacturers to grow and invest here in the U.S., further securing strategic supply chains. The U.S. is Taiwan’s largest trading partner without a tax treaty. The Chinese Communist Party should not control American supply lines – the U.S. should instead rely on better partners to grow our economy. Issues : Tax Reform, Small Business, & The Economy