Bill · S. 199· Senate(119-S-199)
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.
- Introduced
- 1/23/2025
- Last activity
- 1/23/2025 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Mike Crapo
- Cosponsors
- - 22 - 26
- Introduced
- In Committee
What this bill would do
This bill, titled the "United States-Taiwan Expedited Double-Tax Relief Act," aims to amend the Internal Revenue Code of 1986 to provide special tax rules for qualified residents of Taiwan. It establishes reduced tax rates on certain types of income, such as interest, dividends, and royalties, derived from United States sources. Additionally, it provides tax relief for qualified wages and certain income from entertainment or athletic activities. The bill also allows for specific taxation rules regarding United States permanent establishments held by qualified residents of Taiwan. Finally, it authorizes the President to negotiate and enter into a formal tax agreement with Taiwan to address double taxation issues.
Yes· 3 of 9
Would business owners be better off under this?+6
The bill reduces the tax burden on business-related income and permanent establishments for qualified residents of Taiwan.
Does this make trade with other countries easier?+6
The bill specifically aims to address double taxation to facilitate economic activity and trade between the U.S. and Taiwan.
Would high-income households be better off under this?+5
The bill provides significant tax reductions on dividends, interest, and royalties which primarily benefit high-income investors.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Reduced Tax Rates on Investment Income: Qualified residents of Taiwan would see lower tax rates on interest, dividends, and royalties. For example, the applicable percentage for many items is set at 10 percent instead of the standard 30 percent (Section 102(a)(1)(C)).
-
Lower Rates on Specific Dividends: Certain dividends could be taxed at a rate of 15 percent, or even 10 percent if specific requirements are met (Section 102(a)(1)(C)).
-
Tax Relief for Workers: No tax would be imposed on "qualified wages" paid to a qualified resident of Taiwan who is not a resident of the United States or is employed on a ship or aircraft in international traffic (Section 102(a)(2)).
-
Tax Relief for Entertainers and Athletes: Individuals performing entertainment or athletic activities in the United States may not have taxes imposed on that income if the aggregate gross receipts do not exceed $30,000 (Section 102(a)(3)).
Potential Negative Impacts for People
-
Exclusions from Benefits: Certain types of income are excluded from these special rules, such as dividends from real estate investment trusts that are not "qualified REIT dividends," or amounts subject to section 897 (Section 102(a)(1)(B)).
-
Restrictions on Wages: "Qualified wages" do not include certain types of income like directors' fees, income from entertainers or athletes, student/trainee income, or pensions (Section 102(a)(2)(B)(ii)).
-
Limitations on Entertainment/Athletic Income: The tax relief for entertainers and athletes does not apply if the income is effectively connected with a United States permanent establishment (Section 102(a)(3)(B)(i)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+6Good For High Income Households+5Good For Immigrants+4
- Economy And Finance
- Reduces Capital Gains Tax+5Improves Economic Growth+4Increases Job Creation+3
- National Security And Foreign Policy
- Improves International Trade+6Improves International Alliances+5
- Governance And Ideology
- Improves Government Transparency+2
- 4/13/2026
- 1 Cosponsor added.
- 3/10/2026
- 1 Cosponsor added.
- 2/10/2026
- 1 Cosponsor added.
- 1/14/2026
- 1 Cosponsor added.
- 12/16/2025
- 1 Cosponsor added.
- 9/2/2025
- 1 Cosponsor added.
- 7/30/2025
- 1 Cosponsor added.
- 7/15/2025
- 1 Cosponsor added.
- 6/17/2025
- 1 Cosponsor added.
- 6/12/2025
- 1 Cosponsor added.
- 5/22/2025
- 1 Cosponsor added.
- 5/19/2025
- 1 Cosponsor added.
- 5/8/2025
- 1 Cosponsor added.
- 5/5/2025
- 1 Cosponsor added.
- 4/1/2025
- 2 Cosponsors added.
- 3/25/2025
- 1 Cosponsor added.
- 3/13/2025
- 2 Cosponsors added.
- 3/10/2025
- 1 Cosponsor added.
- 3/6/2025
- 1 Cosponsor added.
- 3/3/2025
- 2 Cosponsors added.
- 2/25/2025
- 2 Cosponsors added.
- 2/24/2025
- 2 Cosponsors added.
- 2/13/2025
- 4 Cosponsors added.
- 2/6/2025
- 2 Cosponsors added.
- 2/3/2025
- 12 Cosponsors added.
- 1/23/2025
- Read twice and referred to the Committee on Finance.
- 3 Cosponsors added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Angela AlsobrooksDemocrat · Maryland
Marsha BlackburnRepublican · Tennessee
Michael BennetDemocrat · Colorado
Richard BlumenthalDemocrat · Connecticut
Jim BanksRepublican · Indiana
Lisa Blunt RochesterDemocrat · Delaware
Ted BuddRepublican · North Carolina
Bill CassidyRepublican · Louisiana
Christopher CoonsDemocrat · Delaware
Ted CruzRepublican · Texas
Catherine Cortez MastoDemocrat · Nevada
John CurtisRepublican · Utah
Steve DainesRepublican · Montana
Tammy DuckworthDemocrat · Illinois
John FettermanDemocrat · Pennsylvania
Chuck GrassleyRepublican · Iowa
Ruben GallegoDemocrat · Arizona
John HickenlooperDemocrat · Colorado
Mazie HironoDemocrat · Hawaii
John HoevenRepublican · North Dakota
Maggie HassanDemocrat · New Hampshire
Cindy Hyde-SmithRepublican · Mississippi
James JusticeRepublican · West Virginia
Mark KellyDemocrat · Arizona
John KennedyRepublican · Louisiana
Ben LujánDemocrat · New Mexico
Cynthia LummisRepublican · Wyoming
James LankfordRepublican · Oklahoma
Jerry MoranRepublican · Kansas
Patty MurrayDemocrat · Washington
Jeff MerkleyDemocrat · Oregon
Alex PadillaDemocrat · California
Gary PetersDemocrat · Michigan
James RischRepublican · Idaho
Jacky RosenDemocrat · Nevada
Pete RickettsRepublican · Nebraska
Adam SchiffDemocrat · California
Jeanne ShaheenDemocrat · New Hampshire
Tim ScottRepublican · South Carolina
Dan SullivanRepublican · Alaska
Elissa SlotkinDemocrat · Michigan
Tim SheehyRepublican · Montana
Thomas TillisRepublican · North Carolina
Chris Van HollenDemocrat · Maryland
Ron WydenDemocrat · Oregon
Raphael WarnockDemocrat · Georgia
Mark WarnerDemocrat · Virginia
Todd YoungRepublican · Indiana