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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.
3/14/2024, 4:13 AM
Summary of Bill S 3861
Bill 118 s 3861, also known as the "United States-People's Republic of China Income Tax Convention Termination Act," is a proposed piece of legislation in the US Congress. The bill aims to terminate the income tax convention between the United States and the People's Republic of China if the People's Liberation Army (PLA) initiates an armed attack against Taiwan.
The bill is specifically targeting the economic relationship between the US and China, as the income tax convention governs the taxation of income earned by residents of one country in the other country. By terminating this convention in the event of a PLA attack on Taiwan, the bill seeks to send a strong message of condemnation and consequences for such aggressive actions.
The rationale behind the bill is to deter China from taking military action against Taiwan, a democratic island nation that China claims as its own territory. The US has long supported Taiwan's independence and sovereignty, and any attack on Taiwan would be seen as a direct threat to regional stability and US interests in the Asia-Pacific region. If passed, the bill would require the US government to formally terminate the income tax convention with China in response to a PLA attack on Taiwan. This would have significant implications for the economic relationship between the two countries and could potentially escalate tensions between them. Overall, Bill 118 s 3861 is a clear and direct response to the growing tensions between the US and China over Taiwan. It reflects the US government's commitment to defending Taiwan's sovereignty and sends a strong message that any military aggression by China will not be tolerated.
The bill is specifically targeting the economic relationship between the US and China, as the income tax convention governs the taxation of income earned by residents of one country in the other country. By terminating this convention in the event of a PLA attack on Taiwan, the bill seeks to send a strong message of condemnation and consequences for such aggressive actions.
The rationale behind the bill is to deter China from taking military action against Taiwan, a democratic island nation that China claims as its own territory. The US has long supported Taiwan's independence and sovereignty, and any attack on Taiwan would be seen as a direct threat to regional stability and US interests in the Asia-Pacific region. If passed, the bill would require the US government to formally terminate the income tax convention with China in response to a PLA attack on Taiwan. This would have significant implications for the economic relationship between the two countries and could potentially escalate tensions between them. Overall, Bill 118 s 3861 is a clear and direct response to the growing tensions between the US and China over Taiwan. It reflects the US government's commitment to defending Taiwan's sovereignty and sends a strong message that any military aggression by China will not be tolerated.
Read the Full Bill
Current Status of Bill S 3861
Bill S 3861 is currently in the status of Bill Introduced since March 5, 2024. Bill S 3861 was introduced during Congress 118 and was introduced to the Senate on March 5, 2024. Bill S 3861's most recent activity was Read twice and referred to the Committee on Foreign Relations. as of March 5, 2024
Bipartisan Support of Bill S 3861
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
6Democrat Cosponsors
4Republican Cosponsors
2Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 3861
Primary Policy Focus
International AffairsAlternate Title(s) of Bill S 3861
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.
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.
Comments
Sponsors and Cosponsors of S 3861
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