Following Hurricane Milton’s catastrophic landfall, Governor Ron DeSantis has requested an Expedited Major Disaster Declaration to support Florida's response and recovery efforts. U.S. Senator Marco Rubio (R-FL), U.S. Representative Vern Buchanan (R-FL), and members...
Following Hurricane Milton’s catastrophic landfall in Florida, U.S. Senator Marco Rubio (R-FL) joined the U.S. Coast Guard to survey impacted areas across the State. Photos are courtesy of Senator Rubio’s office. Senator Rubio joins the U.S. Coast Guard for a flyover...
U.S. Senator Marco Rubio’s (R-FL) office will host in-person Mobile Office Hours next week to assist constituents with federal casework issues in their respective local communities. These office hours offer constituents who do not live close to one of Senator Rubio’s...
Major Hurricane Milton is expected to make landfall in Florida, bringing with it devastating storm surge, winds, and inland flooding. The Seminole Tribe of Florida should have access to the federal resources required for emergency response and recovery preparations on...
Major Hurricane Milton is forecasted to potentially hinder or obstruct the Port of Tampa Bay, which receives more than 40 percent of Florida’s petroleum products. It’s crucial for the federal government to expedite all requested measures to protect Florida’s economy...
Major Hurricane Milton is forecasted to impact Florida with devastating storm surge, winds, and inland flooding. After just being hit by Hurricane Helene, it’s crucial for the State of Florida to have the support of the federal government. U.S. Senators Marco Rubio...
Washington, D.C. — U.S. Senators Marco Rubio (R-FL), Bill Hagerty (R-TN), Richard Burr (R-NC), Chuck Grassley (R-IA), John Boozman (R-AR), Thom Tillis (R-NC), Bill Cassidy (R-LA), James Lankford (R-OK), Roger Wicker (R-MS), Kevin Cramer (R-ND), Pat Toomey (R-PA), Rick Scott (R-FL), Todd Young (R-IN), John Barrasso (R-WY), Steve Daines (R-MT), James Inhofe (R-OK), Cynthia Lummis (R-WY), and Joni Ernst (R-IA) sent a letter to Senators Bob Menendez (D-NJ) and Jim Risch (R-ID), Chairman and Ranking Member, respectively, of the Senate Committee on Foreign Relations, urging them to prioritize the U.S.-Chile bilateral tax treaty by scheduling a committee vote on this important agreement.
In their letter, the senators noted that “the U.S.-Chile bilateral tax treaty was negotiated between the U.S. and Chile in 2010, but the Senate has yet to give its consent to ratification.”
“The Treaty is vitally important to U.S. foreign direct investment in Chile,” the senators wrote. “Without ratification of the Treaty, Chilean tax rates are due to increase on U.S. companies’ Chilean operations and could reach a rate of 44.45 percent.”
“Failure to ratify the treaty could significantly reduce investments by U.S. companies in Chile, weakening the U.S. economy,” they warned.
Rubio is a senior member of the Senate Committee on Foreign Relations.
El texto de la carta en inglés está aquí. .
Dear Chairman Menendez and Ranking Member Risch:
We urge you to prioritize the U.S.-Chile bilateral tax treaty this year by scheduling a committee vote on this important agreement.
As you know, the U.S.-Chile bilateral tax treaty was negotiated between the U.S. and Chile in 2010, but the Senate has yet to give its consent to ratification. The Treaty is vitally important to U.S. foreign direct investment in Chile. Without ratification of the Treaty, Chilean tax rates are due to increase on U.S. companies’ Chilean operations and could reach a rate of 44.45 percent. By comparison, the Chilean operations of multinational companies headquartered in countries with treaties in force, such as China, Japan, Canada, Australia, and the United Kingdom, would continue to enjoy the current Chilean rate of 35 percent.
Further, the Treaty would benefit U.S. companies, and a growing number of Chilean companies who operate in a variety of sectors, and are eager to increase their investments in the U.S. These investments have the potential to create thousands of jobs. Failure to ratify the treaty could significantly reduce investments by U.S. companies in Chile and weaken the U.S. economy.
In order to strengthen the economy and protect U.S. company investments, we ask for your support to ensure the prompt ratification of the U.S.-Chile Tax Treaty. Thank you for your attention to this urgent matter and we look forward to working with you to ensure timely ratification.
Atentamente,