Political Quotes

On the recordOctober 4, 2000
You say ``reservations.'' Sir, if there are any reservations about the legislation as such, I would hope they would bring them to the attention of Senator Roth, myself, and others, and the administration. This is absolutely must do legislation. If we do not do it, we put ourselves at risk of a probable certain outcome--a trade war with Europe. In fact, it would astonish us and injure us, and we will wonder what happened. And nothing need have happened. It was found that our tax arrangements for foreign sales corporations were in violation of WTO rules. Fine. We said we will produce a different measure that is compliant. The American industry is very happy. We have the bill. All we need to do is pass it. The deadline was October 1. It has been extended to November 1. If we do not do this, we will be remembered as a Congress that did not, and not favorably, sir. I thank you for bringing it up. I regret there are reservations, but they have nothing to do, that I know of, with the essence of this measure.
Said by
Patrick Moynihan
Illinois

Editor's note · Context

Discussing the urgency of passing legislation to avoid a trade war with Europe.

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