US-Chile Tax Treaty Passes Test at Key Senate Panel (2)

A tax pact with Chile passed a key test surviving a Senate panel vote, after a foreign tax credit language dispute slowed progress.

The treaty dates back to 2010, but it’s been stuck in Senate purgatory awaiting a floor vote, even though it’s received a vote in the committee as recently as last year. With concerns that arose during this Congress smoothed over, both lawmakers and those in the business community applauded momentum toward approving the treaty.

The Senate Foreign Relations Committee voted to move the treaty forward, 20-1.

Sen. Rand Paul (R-Ky.), a member of the committee and ...