The U.S. Senate voted overwhelmingly on Thursday in favor of a tax treaty with Chile seen as crucial for ensuring access for U.S. companies to lithium, a mineral essential for electric vehicle batteries.
The Senate backed ratification by 95-2, comfortably over the two-thirds supermajority required to approve treaties in the 100-member chamber.
Final approval will send the treaty to the White House, which said President Joe Biden planned to sign it. Chile's Congress approved the treaty in 2015. It first came up in the U.S. Senate in 2012, but failed to advance partly due to opposition from Republican Senator Rand Paul - one of the no votes on Thursday - who said he was concerned it could allow foreign tax authorities to obtain information on U.S. citizens.
Business interests have been pushing for the tax agreement for years. The U.S. Chamber of Commerce called it an urgent priority. Without it, taxes on U.S. companies with Chilean operations could climb to more than 44%, the business group said."As the world races to advance clean technologies, Chile will be a critical ally for anyone looking to lead the way," the Senate's Democratic majority leader, Chuck Schumer, said on Thursday as he urged passage.
"If the United States is serious about remaining ahead of countries like China, it's imperative we pass this treaty today," Schumer said.to expand lithium mining in the country in April in an attempt to regain its position as the world's top lithium producer.Reporting by Patricia Zengerle; Editing by Sandra Maler and Jonathan OatisPatricia Zengerle has reported from more than 20 countries, including Afghanistan, Iraq, Pakistan, Saudi Arabia and China.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
US Senate advances Chile tax treaty, paving way for ratificationThe U.S. Senate voted overwhelmingly on Wednesday to advance a tax treaty with Chile, paving the way for final approval of a pact seen as crucial for ensuring access for U.S. companies to lithium, a mineral essential for electric vehicle batteries.
Weiterlesen »
Chile’s desert dumpsite for 60K tons of fast fashion seen from space“The satellite image that we ordered of the clothes pile in Chile’s Atacama Desert really puts things into perspective,” reads the SkyFi blog post.
Weiterlesen »
Indicted Rep. George Santos' bail guarantors' names will be revealed Thursday, judge saysSantos, R-N.Y., has pleaded not guilty to a 13-count indictment accusing him of fraud, money laundering and theft of public funds.
Weiterlesen »
Tropical Storm Bret expected to impact Leeward Islands on ThursdayLATEST TRACK 🌀 Tropical Storm Bret continued to strengthen this morning as it moved westward toward the Lesser Antilles. As of 8 a.m., it was about 500 miles east of Barbados with winds near 60 mph with higher gusts.
Weiterlesen »
TODAY: Victor Wembanyama to speak with media ahead of Thursday's NBA DraftNEW YORK CITY - French phenom Victor Wembanyama is set to speak with the media Wednesday morning - a day ahead of the 2023 NBA Draft.The press conference is sc
Weiterlesen »