S. 199 · 119th Congress

Lowers U.S. taxes on Taiwan residents if Taiwan gives Americans similar treatment

Official title: A bill to amend the Internal Revenue Code of 1986 to provide special rules for the taxation of certain residents of Taiwan with income from sources within the United States.1

Never got a floor vote

§1What it does

Why this matters: A plain-English description of the bill as it was voted on, written by us from the official summary and text.

Drafted by AI from the public sources cited. Each sentence links to its source.

This bill would cut the 30% U.S. withholding tax on interest and royalties paid to qualified residents of Taiwan to 10% and on most dividends to 15%, and would set other tax rules for them, such as on wages and business income.2 These benefits would apply only while the Treasury Department finds that Taiwan gives similar tax treatment to Americans.2 Because the United States cannot sign a formal treaty with Taiwan, the bill would also let the President negotiate a tax agreement with Taiwan that would need approval by Congress before taking effect.2

§2Status

StatusLatest action, January 23, 2025: Read twice and referred to the Committee on Finance.1
IntroducedJanuary 23, 2025
SponsorSen. Crapo, Mike [R-ID]
Cosponsors48 cosponsors (22 Republican, 26 Democratic)
Official recordS. 199 on Congress.gov

§3It never got a vote

Why this matters: This bill had wide support from both parties, but it never reached the House or Senate floor, so no member of Congress was ever recorded voting for or against it.

Latest action, January 23, 2025: Read twice and referred to the Committee on Finance.1 How bills die without a vote.

2026 candidates who sponsored or cosponsored it (10)