Byron Dorgan: “That is exactly the case. Most people would not even believe that to be the case. They would say: How on Earth would…”

“That is exactly the case. Most people would not even believe that to be the case. They would say: How on Earth would someone have constructed a system that allows that to happen? Oh, but they did, and they have fiercely protected it. The reason the steel company that stays here pays a higher tax is the steel company that leaves and ships back to this country gets what is called a deferral of income tax; they don't have to pay the tax until some point later. Of course, we know from history and from the history what has been described as being filed to this bill, ultimately if they are repatriated, they get to pay a tax rate of 5\1/2\ percent, something no other American gets to pay. It is a pernicious tax incentive that we certainly ought to put an end to, in my judgment.”