Congressman Mike Johnson | Official U.S. House headshot
Congressman Mike Johnson | Official U.S. House headshot
On January 15, 2025, the House of Representatives passed H.R. 33, known as The United States-Taiwan Expedited Double-Tax Relief Act. This legislative action aims to enhance economic ties between the United States and Taiwan by addressing cross-border tax issues.
Speaker Johnson commented on the passage of the bill, stating, "House Republicans understand the significance of America’s economic relationship with Taiwan. By passing legislation to streamline the tax process for cross-border investments, we are strengthening our economic ties, boosting our competitiveness, and creating jobs."
The bill allows the President to negotiate a tax agreement with Taiwan. The goal is to prevent Taiwanese companies from facing double taxation in the U.S., which could encourage them to establish factories within American borders. Speaker Johnson added that this move is intended to make "the U.S. a more competitive place for semiconductor companies to do business."
Alerts Sign-up