As prepared for delivery.

“I rise in strong support of the U.S.-Taiwan Expedited Double-Tax Relief Act – bipartisan legislation that will unleash more American manufacturing investment and jobs and help combat China’s harmful influence. 

“For too long, America has been too dependent on China. It comes at a high price, as communities across this country lose jobs and live with little hope for the future. It also puts America’s national security at risk. 

“The bill before us establishes fair tax treatment for both American workers and businesses operating in Taiwan and puts Americans on equal footing with our competitors around the world. 

“Enacting this legislation will help create jobs here at home. U.S. exports to Taiwan support 188,000 American jobs and Taiwanese investment in the United States supports another 21,000. Reducing burdens to Taiwanese investment in America will help aid in building new cutting-edge manufacturing plants staffed by American workers. It will help support our domestic semiconductor and chip manufacturing capabilities, securing strategic supply chains and helping us further move away from China. 

“Citizens and companies from countries like Great Britain, the European Union, Japan, Australia, and New Zealand all enjoy better tax treatment than Americans in Taiwan currently do. That’s not right. In fact, the United States is Taiwan’s largest trading partner without a tax treaty.

“Enhancing our relationship with Taiwan will strengthen the U.S. economy and our national security. Instead of leaving critical supply chains in the hands of the Chinese Communist Party, we need to be making more goods in America – or in partnership with allies like Taiwan that share our interests – to reduce our dependence on China. 

“This legislation has strong bipartisan support. Last Congress, we took action in authorizing and establishing the first steps in a free trade agreement between the U.S. and Taiwan. As we continue to grow our economic relationship together, a tax treaty represents the logical next move. Advancing this legislation to President Trump’s desk is the right thing to do for American workers and our economy as a whole.

“I want to thank Ranking Member Neal for helping lead this effort and introducing this legislation with me. Today, we are showing the world that American leaders are united in standing up for our workers and businesses.

“I urge all my colleagues to support this bill to help critical American manufacturing sectors and protect our national and economic security.”