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Tax Treaties Will Attract Greater Global Investment

McLernon applauds Senate Foreign Relations Committee’s action on bilateral tax treaties

WASHINGTON – Nancy McLernon, President and CEO of the Organization for International Investment (OFII), issued the following statement after the U.S. Senate Committee on Foreign Relations passed bilateral tax treaties with Spain and Poland:

“Bilateral tax treaties and protocols are extremely important in promoting a competitive environment for foreign investment in the United States.  These two treaties signal that the United States is serious about creating jobs here at home by welcoming investment from abroad.  The Senate must act quickly to ratify these treaties, as well as the treaties with Switzerland, Luxembourg, Hungary and Chile.  These agreements are too important to be left languishing.”

During a business meeting on Wednesday, the Foreign Relations Committee approved bilateral tax treaties with Spain and Poland.  Both measures were approved without objection by voice vote and will be sent to the full Senate for final consideration. 

In February, Nancy McLernon testified before the Foreign Relations Committee in support of pending tax treaties and protocols with Switzerland, Luxembourg, Hungary and Chile.  The full text of her testimony can be found here, along with video, here

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