Senate Approves Long-Delayed Tax Treaties In Win For Business

The Senate on Wednesday took long-sought action on three tax treaties, a win for the business community.

The Senate ratified protocols updating tax treaties with Switzerland, Japan and Luxembourg.  The votes come one day after the chamber ratified a protocol updating a tax treaty with Spain.

The overwhelming majority of senators voted for the treaties. Sens. Rand Paul (R-Ky.) and Mike Lee (R-Utah) voted "no" on all four treaties, and were joined by Sen. Dick Durbin (D-Ill.) in voting against the treaty with Luxembourg.

Paul had long held up the treaties over concerns about taxpayers’ privacy.  The votes came after years of delays and highlighted a divide between Senate Majority Leader Mitch McConnell (R-Ky.) and his fellow Kentuckian.