Kerry and Dems Won\’t Remove Tariffs on American Companies
WASHINGTON – Today, the Senate will once again try to overcome Democratic opposition and invoke cloture to bring America \’s tax code back into compliance with the World Trade Organization (WTO) ruling. The Foreign Sales Corporations (FSCs) and the extraterritorial income exclusion (ETI) export subsidies were found to be in violation of World Trade Organization (WTO) agreements due to a suit brought by the EU.
As of March 1 st the EU started to impose tariffs on U.S. made products in key presidential swing states with additional tariffs being levied at the beginning of each month absent changes to the tax law. Kerry was a co-sponsor of the legislation to bring the tax code into compliance but removed himself as a cosponsor after falling way behind to Howard Dean in the Democratic primary.
"John Kerry was for American companies and employees before he was against them," said taxpayer advocate Grover Norquist , president of Americans for Tax Reform (ATR). "He has not one shred of credibility left to discuss the economy for next year when he is making American companies less competitive with foreign competition this year. There is absolutely no question that Kerry and his Democratic colleagues are trying to wreck the economy in 2004 so they can win the Presidency."
Congress has put forward a plan to remedy the situation and bring the U.S. tax code into compliance with the WTO ruling. Today the Senate will seek to vote on the issue which would satisfy the EU to lift the tariffs and include job creating provisions such as the Homeland Investment Act (estimated to create more than 400,000 jobs over two years). Kerry and the Democrats obstruction is making U.S. companies less competitive, inflicting jobs losses here in America, and undermining overall economic growth.
"I find it completely disingenuous that Kerry is complaining about outsourcing and manufacturing job losses when he is ensuring manufacturing suffers for his own political gain," continued Norquist. "American voters and taxpayers will see right through this hypocrisy if the games don\’t end today."