Ron Kind: “the retaliatory tariffs that the European Union has issued over our delay in complying with World Trade Organizations…”

“the retaliatory tariffs that the European Union has issued over our delay in complying with World Trade Organizations are hurting manufacturers all over this country, and it is past time to address this issue. Legislators on both sides of the aisle and in both the House and Senate agree on this basic premise, and it is a shame that a bill to solve this problem has been burdened with unnecessary tax incentives to corporations. I, along with many other members of Congress from both sides of the aisle have been pushing for congressional action to fix the international trade dispute over the extraterritorial income (ETI) and Foreign Sales Corporation (FSC) programs. We have a bipartisan, fully paid-for remedy that would reform these tax provisions, put the United States tax code in compliance with the World Trade Organization (WTO), and reduce the tax burden on American manufacturers and farmers. Unfortunately, the Majority leadership ignored this bipartisan approach in favor of a budget-busting, controversial bill that does little for small manufacturers in Wisconsin and includes multiple provisions completely unrelated to the trade problem we need to fix immediately. Because of the House majority's previous inaction on reforming the FSC-ETI trade dispute, the European Union (EU) continues to ratchet up tariffs on nearly 100 categories of U.S.-produced exports.”