The U.S. Congressional Budget Office (CBO) has issued a cost estimate report on the United States-Taiwan Expedited Double-Tax Relief Act (Bill H.R. 5988). The legislation would align the tax treatment of income in the United States and Taiwan with the treatment typically offered by the United States under bilateral tax treaties.  With respect to revenue, the report finds if the required actions occurred for the bill to take effect, U.S. taxes on income from U.S. sources earned by qualified residents of Taiwan would be reduced, although Taiwanese taxes on income from Taiwanese sources earned by U.S. residents would also be reduced,...