Tax Treaties Clear Senate Foreign Relations Committee Vote (1)

Four tax treaty protocols could be considered on the Senate floor this summer after clearing a committee vote June 25.

The protocols would amend existing bilateral U.S. tax treaties with Japan, Luxembourg, Spain, and Switzerland.

The Senate Foreign Relations Committee voted to advance the treaties, despite efforts by Sen. Rand Paul (R-Ky.) to attach amendments that would limit information sharing. The Senate hasn’t ratified a tax treaty since 2010 because of Paul’s objections that the treaties compromise the privacy of American citizens. The treaties have cleared the committee before—most recently in 2015—but weren’t considered on the Senate floor.

“Because they ...