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Congress·Passed House·H.R. 33

Taiwan: Tax Relief for Businesses and Workers

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.

Also known as: United States-Taiwan Tax Agreement Authorization Act

about 1 year ago·View on Congress.gov
Part of: Bipartisan Push to Eliminate Double Taxation for U.S.-Taiwan Trade
⏸

Stalled

No legislative action in over 90 days.

Legislative Progress

✓ House

423–1

Senate
President
Law

Key Points

  • This bill lowers the taxes taken out of payments made to people and companies from Taiwan. Right now, the U.S. government often takes 30% of money earned from things like stock payments or fees for using inventions; this plan would lower that rate to 10% or 15% to help businesses grow and prevent money from being taxed twice.
  • It helps workers by making some paychecks tax-free for Taiwan residents working in the U.S., provided they are paid by a company from their home country. It also allows athletes and entertainers from Taiwan to earn up to $30,000 a year in the U.S. without paying federal income tax on that specific money.
  • The U.S. usually signs tax treaties with other countries to prevent people from being taxed by two different governments, but it cannot do that with Taiwan because of unique diplomatic rules. This law creates a special workaround so the President can negotiate a deal that treats Taiwan like other major trading partners.
  • These tax cuts will only happen if the government confirms that Taiwan is giving the same benefits to Americans. This fair trade-off ensures that U.S. citizens and companies doing business in Taiwan are treated the same way as Taiwan businesses are treated here in the United States.

Milestones

3 milestones11 actions
Jan 16, 2025Senate

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

Jan 15, 2025House

Motion to reconsider laid on the table Agreed to without objection.

Jan 15, 2025House

On passage Passed by the Yeas and Nays: 423 - 1 (Roll no. 15). (text: CR H160-164)

Jan 15, 2025

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 423 - 1 (Roll no. 15). (text: CR H160-164)

Jan 15, 2025House

Considered as unfinished business. (consideration: CR H170)

Vote Results

1 vote
HousePassedPassageJan 15, 2025

On Passage

423
1
Democrat
210 – 0 · 5
Republican
213 – 1 · 4
View full roll call

Related Bills

2 bills
H.Res. 5Related bill

Adopting the Rules of the House of Representatives for the One Hundred Nineteenth Congress, and for other purposes.

Jan 3 — Motion to reconsider laid on the table Agreed to without objection.

S. 199Related bill

A bill 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.

Jan 23 — Read twice and referred to the Committee on Finance.

Source Information

Document Type

Congressional Bill

Official Title

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.

Bill NumberHR 33
Congress119th Congress
ChamberHouse of Representatives
Latest ActionReceived in the Senate and Read twice and referred to the Committee on Finance.

Sponsor

Cosponsors

(46)
D: 16R: 30

Analysis generated by AI. Always verify with official sources.