Supporting the ratification of the Chilean tax treaty.

This resolution recognizes the long-standing United States-Chile partnership. It also (1) reaffirms the importance of expanded bilateral economic ties for advancing the prosperity of both countries, and (2) urges the Senate to provide its advice and consent to ratification of the bilateral tax treaty with Chile.

Bill 118 H.Res. 487, also known as the "Supporting the ratification of the Chilean tax treaty" bill, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to express support for the ratification of the tax treaty between the United States and Chile.

The tax treaty between the US and Chile aims to prevent double taxation and promote economic cooperation between the two countries. It outlines the rules for how taxes will be imposed on income earned in one country by residents of the other country. By ratifying this treaty, both the US and Chile hope to create a more favorable environment for cross-border trade and investment.

The bill emphasizes the importance of the US-Chile tax treaty in strengthening the economic relationship between the two countries and promoting mutual prosperity. It also highlights the benefits of the treaty for American businesses operating in Chile and Chilean businesses operating in the US. Overall, Bill 118 H.Res. 487 seeks to show congressional support for the ratification of the tax treaty between the US and Chile, recognizing the positive impact it will have on bilateral economic relations.