The publication is reproduced in full below:
RACING TO THE BOTTOM
(Mr. HIGGINS of New York asked and was given permission to address the House for 1 minute.)
Mr. HIGGINS of New York. Madam Speaker, for generations, Americans and Canadians have owned homes on either side of the border, making many of our citizens neighbors in every sense of the word.
The pandemic has hurt the connections between our two countries, often making it difficult for citizens to visit their properties.
Recently, the Canadian Government proposed a 1 percent tax on residential real estate owned by non-Canadians. We believe this tax is not just an unfair fine on good neighbors but a violation of the United States-Mexico-Canada Agreement and international tax law.
We are working with the Biden administration to advocate on behalf of Americans and urge Canada to reject this proposal. Its adoption could lead to a race to the bottom for both of our countries.
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SOURCE: Congressional Record Vol. 168, No. 22
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