Congress repeals tax provisions.(On to President)(Brief Article)
Official Board Markets, October, 2004
Both the U.S. House of Representatives and Senate vote to repeal the Foreign Sales Corporation/Extraterrestrial Income (FSC-ETI) export tax provision that has resulted in retaliatory tariffs imposed by the European Union on U.S. products, including more than 165 forest and paper products. W. Henson Moore, president and ceo of the American Forest & Paper Association, commends Congress for its actions.
"Repealing FSC-ETI--and ending the European sanctions against more than 1600 U.S. products--will pay immediate dividends for U.S. companies and their workers by allowing our products to compete in Europe again, resulting in more orders for our manufacturers and more jobs for U.S. workers," Moore said in a statement.
The World Trade Organization...
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