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Support for Chile Tax Treaty Ratification: Benefits for US Businesses

This US House of Representatives resolution urges the Senate to approve a tax treaty with Chile. Its goal is to ensure that American companies operating in Chile do not face higher taxes than their competitors from other countries, thus protecting their competitiveness and supporting trade. Without this treaty, US companies could face significantly higher tax rates, negatively impacting their operations and potentially US jobs.
Key points
The tax treaty aims to reduce tax burdens for US companies in Chile, ensuring a level playing field with competitors.
Without ratification, US companies could face up to a 44.45% tax rate in Chile, while others pay only 35%.
Supporting the treaty is intended to strengthen economic ties and increase trade between the US and Chile, benefiting both nations.
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Additional Information
Print number: 118_HRES_487
Sponsor: Rep. Connolly, Gerald E. [D-VA-11]
Process start date: 2023-06-09
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Supporting the ratification of the Chilean tax treaty.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HRES_487.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-06-09.

What are the main provisions?

Key points include:

  • The tax treaty aims to reduce tax burdens for US companies in Chile, ensuring a level playing field with competitors.
  • Without ratification, US companies could face up to a 44.45% tax rate in Chile, while others pay only 35%.
  • Supporting the treaty is intended to strengthen economic ties and increase trade between the US and Chile, benefiting both nations.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Connolly, Gerald E. [D-VA-11].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Taxes Economy