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Congress backs tax fix to avert trans Atlantic trade war
Congress approved a 4.5 billion dollar over ten years repeal and rewrite of the Foreign Sales Corporation tax system to meet WTO guidelines and maintain US company competitiveness. The measure faces EU challenge and a December deadline as lawmakers delay broader tax and budget talks. President Clinton is expected to sign before Friday.
MENTIONED IN THIS ARTICLE
Congress
Washington
Clinton
U.S
World Trade Organization
European Union
Bill Archer
Texas
House
Ways and Means Committee
Senate
White House
Florida
District of Columbia
United
Charlene Barshefsky
WTO
United States
House Democrats
Rep
Fortney
Pete” Stark
D-Calif
America
Stark
Charles Rangel
New York
Ways and Means