S. 3861 proposes to end the income tax agreement between the United States and the People's Republic of China if China’s military attacks Taiwan. The Secretary of the Treasury is required to notify China within 30 days of the President's assessment that such an attack has...
Simple Explanation
If China's military attacks Taiwan, this bill says the United States will stop a special agreement with China about taxes. The President and the Treasury boss have to tell China and certain people in the U.S. government if this happens.