Supporting the ratification of the Chilean tax treaty.



<html><body><pre>[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 487 Introduced in House (IH)]

&lt;DOC&gt;






118th CONGRESS
  1st Session
H. RES. 487

         Supporting the ratification of the Chilean tax treaty.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              June 9, 2023

   Mr. Connolly (for himself, Ms. Salazar, and Mr. Castro of Texas) 
submitted the following resolution; which was referred to the Committee 
on Foreign Affairs, and in addition to the Committee on Ways and Means, 
for a period to be subsequently determined by the Speaker, in each case 
for consideration of such provisions as fall within the jurisdiction of 
                        the committee concerned

_______________________________________________________________________

                               RESOLUTION


 
         Supporting the ratification of the Chilean tax treaty.

Whereas Chile is one of the United States strongest partners in the Western 
        Hemisphere;
Whereas the United States signed a free trade agreement in 2004 that allows for 
        the duty-free export of all United States consumer and industrial goods 
        to Chile;
Whereas the signing of a free trade agreement eliminated tariffs, provided 
        intellectual property protections, enabled regulatory transparency, 
        prohibited anticompetitive business conduct, and required labor and 
        environmental protections;
Whereas bilateral trade between the United States and Chile in goods and 
        services reached $38,400,000,000 in 2021, and United States goods 
        exports to Chile amounted to $17,300,000,000 in 2021;
Whereas, in 2022, United States-Chile merchandise trade amounted to 
        $38,900,000,000, including $23,300,000,000 of United States goods 
        exports to Chile and $15,600,000,000 of United States goods imports from 
        Chile;
Whereas the United States and Chile are celebrating 200 years of relations in 
        2023;
Whereas the United States and Chile signed a bilateral tax treaty on February 4, 
        2010;
Whereas, in 2014, Chile passed new tax legislation, which increased corporate 
        tax rates in Chile;
Whereas, without a ratified bilateral tax treaty, United States companies with 
        operations in Chile will be subject to a tax rate of up to 44.45 percent 
        in 2027;
Whereas companies headquartered in 35 countries with which Chile already has 
        bilateral tax treaties in force will continue to be subject to a 35-
        percent tax rate, leaving United States businesses at a significant 
        competitive disadvantage;
Whereas the Committee on Foreign Relations of the Senate reported the bilateral 
        tax treaty favorably in 2014, 2016, 2022, and most recently on June 1, 
        2023; and
Whereas China is among the United States competitors with which Chile already 
        has a tax treaty in force: Now, therefore, be it
    Resolved, That the House of Representatives--
            (1) recognizes the long-standing United States-Chile 
        partnership;
            (2) reaffirms the importance of expanded bilateral economic 
        ties for advancing the prosperity of both countries; and
            (3) urges the Senate to provide its advice and consent to 
        ratification of the bilateral tax treaty with Chile.
                                 &lt;all&gt;
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