Majority Leader Chuck Schumer Floor Remarks On The Senate Vote On Ratification Of The U.S.-Chile Tax Treaty

Washington, D.C.– Senate Majority Leader Chuck Schumer (D-NY) today spoke on the Senate floor on the importance of ratifying the U.S. Chile Tax Convention, a vote on which is expected later today. Below are Senator Schumer’s remarks, which can also be viewed here:

For decades, Chile has been one of America’s strongest partners in Latin America – economically, diplomatically, militarily, and scientifically.

Today, the Senate will take a monumental step to strengthen U.S.-Chile relations by passing the Chile Tax Treaty. This treaty has been in the works for over a decade, it has strong bipartisan support, and now is the time to finally get it across the finish line.

The U.S.-Chile treaty is consistent with other tax treaties we have with more than 60 countries, which boosts American competitiveness on the global stage.

Chile is the home to the world’s largest lithium reserves, the precious metal used in emerging technologies like iPhones, EV batteries, and renewable energy storage.

So, as the world races to advance clean energy technologies, Chile will be a critical ally for anyone looking to lead the way.

But without a tax treaty with Chile, American companies could face double taxation and other barriers to investment and trade, leaving them at a significant disadvantage against foreign competitors.

If the United States is serious about remaining ahead of countries like China, it’s imperative that we pass this treaty today and put American businesses back on a level playing field with the rest of the world when it comes to Chile.

So this is a very important treaty for our future and for our leadership in technology and in clean energy. I hope it will get as close to unanimous support as anything can get in this body. I want to thank my colleagues on both sides of the aisle, especially Senators Menendez and Risch, for their work on this issue. And I look forward to the Senate finally getting this treaty passed later this afternoon.

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