Max Baucus: “I cosponsored your amendment because I agree that inclusion of a tax provision in this bill is inappropriate. In 1983…”

“I cosponsored your amendment because I agree that inclusion of a tax provision in this bill is inappropriate. In 1983, under the Caribbean Basin Economic Recovery Act, the excise tax collections on imported rum are transferred or rebated to the treasuries of Puerto Rico and the Virgin Islands. The tax code provides a rebate of $13.25 of the $13.50 excise tax to Puerto Rico and the Virgin Islands for the excise tax collected on rum imported into the United States (without regard to the country of origin). The amount of the rebate is scheduled to decrease to the 1983 level of $10.50 after December 31st, unless Congress extends the current $13.25 rebate. Perhaps the expiration of the increased amount transferred provides time for resolution of the dispute?”