Taiwan Tax Pact, Key for Chipmakers, Moves Through US House (1)

Businesses in Taiwan and the US are one step closer to double taxation relief after legislation advanced through a House committee united in support Thursday.

House Ways and Means Committee members voted 40-0 to send the bill, which provides tax treaty-like benefits to Taiwan, to the House floor. Lawmakers are seeking a speedy vote, as Taiwan policy has been a rare spot of bipartisanship in this fractured Congress.

“Hopefully it’s a sign of more to come on bipartisan tax legislation in the future,” said panel Chair Jason Smith (R-Mo.). “Congress must do everything in its power to support Taiwan and ...