Place chicken breasts in an electric pressure cooker (such as Instant Pot®). Sprinkle all sides with taco seasoning. Pour salsa and chicken broth on top.
Place lid on the pot and lock in place. Select the Poultry setting and set the timer for 15 minutes. Allow pressure to release naturally after the cooking time has ended, about 20 minutes. An instant-read thermometer inserted into the center of the chicken should read at least 165 degrees F (74 degrees C). Shred the cooked chicken.