Well, I’m not sure I EVER heard Byrd call for a tax cut....but this is beyond criminal that we kowtow to these idiots:
U.S. tax breaks illegal, WTO rules: Congress given 3 months to Correct
Chicago Sun-Times, Feb 14, 2006 by Sam Cage
GENEVA — The World Trade Organization on Monday condemned tax breaks for some U.S. companies operating overseas, saying Washington has about three months to bring its legislation into line.
A WTO panel rejected a U.S. appeal, upholding previous judgments that the so-called Foreign Sales Corporation, or FSC, law breached global trade rules by giving illegal subsidies to some U.S. businesses.
“The U.S. now has three months to act to avoid the re-imposition of retaliatory measures in this case. The tax benefits preserved by the Jobs Act have been repeatedly declared in violation of WTO rules,” said European Union Trade Commissioner Peter Mandelson.
http://findarticles.com/p/articles/mi_qn4155/is_20060214/ai_n16231686
If the WTO can tell us we cannot have tax exemptions for our exporters and you go along with that, then you and I are a helluva lot farther apart than I assumed.
Oh, that wasn’t the Byrd Amendment, that was the FSC fiasco . . . I’ll have to read up on it when I get the chance.