Mr. Speaker, I will remind my hon. colleague that it is very important for his constituents to have this treaty in place because it will protect pension benefits. Many employees of the auto industry can be transferred from one entity to the other and so the protection of their pension benefits is one of the important aspects.
One of the other important aspects that we do need to remind hon. members about is the arbitration process that this brings into play. We have all heard horror stories of dealing with the tax departments on both the Canadian and the U.S. side. We all would like to think it could work better but when there is an issue this would provide a mandatory process of appeal that was not in place before, which can impact residents on both sides of the border, and this would allow them to have their concerns heard by an independent arbitrator.
This has many important aspects to it and the sharing of making social security benefits taxable only in the recipients country of residence is one of the important aspects.