H.R. 7874 proposes that the United States would end the Income Tax Convention with the People’s Republic of China if the Chinese military attacks Taiwan. The Secretary of the Treasury is required to notify China within 30 days after the President informs them about such an...
Simple Explanation
If the Chinese military starts a fight with Taiwan, this bill says the United States would stop an agreement they have with China about sharing tax information. The President and special government people have to quickly tell China and some important groups about it.