Taiwan Deterrence Act This bill authorizes defense-related assistance for Taiwan and addresses related issues. For FY2023-FY2032, the Department of State may provide foreign military financing grant assistance to Taiwan if (1) Taiwan commits to match such spending on a dollar-for-dollar basis, and (2) the United States and Taiwan agree to conduct joint long-range planning for capability development and on the expenditure of the funds. Furthermore, for the purposes of certain arms export control laws, Taiwan shall receive treatment identical to NATO member countries, Australia, Japan, South Korea, Israel, and New Zealand. (Currently, such countries receive benefits in regards to defense article transfers, such as the waiver of certain requirements and eligibility for assistance and fee waivers.) The State Department must report to Congress on U.S. priorities for building more capable Taiwan security forces and organizations. The State Department and the Department of Defense must jointly report to Congress on an annual basis on Taiwan's enhancement of its self-defense capabilities.