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Terminate US-China Tax Treaty if China attacks Taiwan.

This bill mandates the immediate termination of the US-People's Republic of China Income Tax Convention if the People's Liberation Army initiates an armed attack against Taiwan. While this does not directly affect most citizens' daily finances, it would significantly impact US businesses and investors operating in China by potentially increasing their tax burdens and operational risks. This measure serves as a strong political deterrent against aggression and signals US support for Taiwan.
Key points
Tax Treaty Termination: The 1984 US-China Income Tax Convention must be terminated if China launches an armed attack on Taiwan.
Increased Business Costs: US companies operating in China would lose protection against double taxation, potentially increasing their operating costs.
Mandatory Action: The Treasury Secretary must provide written notice of termination within 30 days after the President confirms the initiation of the armed attack.
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Expired
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Additional Information
Print number: 118_S_3861
Sponsor: Sen. Cornyn, John [R-TX]
Process start date: 2024-03-05
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill to terminate the United States-People's Republic of China Income Tax Convention if the People's Liberation Army initiates an armed attack against Taiwan.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3861.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-03-05.

What are the main provisions?

Key points include:

  • Tax Treaty Termination: The 1984 US-China Income Tax Convention must be terminated if China launches an armed attack on Taiwan.
  • Increased Business Costs: US companies operating in China would lose protection against double taxation, potentially increasing their operating costs.
  • Mandatory Action: The Treasury Secretary must provide written notice of termination within 30 days after the President confirms the initiation of the armed attack.
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 Sen. Cornyn, John [R-TX].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Security Economy