This bill would require the U.S. Treasury Secretary to terminate the 1984 income tax treaty between the United States and China if the People's Liberation Army launches an armed attack on Taiwan. The Secretary would have 30 days after receiving presidential notification of such an attack to formally notify China through diplomatic channels of the termination. The bill would affect multinational corporations and individuals with tax obligations in both countries, as the treaty currently provides tax relief to prevent double taxation on income earned in either nation. Congress would be informed of any termination through notifications to the Senate Foreign Relations and Finance committees. The bill establishes no specific funding requirements but serves as an automatic economic penalty mechanism tied to a military contingency involving Taiwan.