WASHINGTON, D.C. –
Congressman Brad Sherman (D-CA), a senior member of the House Financial
Services and Foreign Affairs Committees, has called on the administration to
negotiate a new tax treaty between the United States and Armenia.
At a recent hearing before the
Financial Service Committee, Sherman told Treasury Secretary Jacob Lew that
currently, “we have a chicken and egg circumstance. You don’t get the
business investment because you don’t have the tax treaty. Then you don’t
need the tax treaty because you don’t have the business investment.
“We have tax treaties with
scores of countries around the world. We devote a substantial amount of
money to trying to achieve our international development goals and can always
provide foreign aid to Armenia. But we can also achieve those goals by
having a tax treaty.”