Word: exportation
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
Nevertheless, U.S. corporations have staunchly defended FSCs, saying they encourage exports and make American companies more competitive with foreign producers. Jeremy Preiss, chief international trade counsel for United Technologies Corp., testified before Congress last July that FSCs are "necessary to help level the playing field on which U.S. and foreign exporters compete." Further, say advocates of subsidizing exports, the U.S. is merely doing what other nations do through a range of helpful export measures. True enough. But European companies traditionally shoulder higher taxes than American companies and help sustain elaborate social-welfare systems of the sort the U.S. has never...
Furthermore, since the U.S. is a member of the World Trade Organization, it is obligated to resolve any subsidy issue before that body. That's exactly what the European Union attempted to do last November, when it filed a complaint with the WTO charging that FSCs are export subsidies and thus prohibited by world trading rules. The WTO has since appointed a dispute panel to hear the charge and make a recommendation...
...Microsoft, which helped lobby for a 59-word clause in the Taxpayer Relief Act of 1997 that sweetened the tax break for software makers. The result will cost taxpayers an extra $1.7 billion over the next 10 years. That's ostensibly meant to encourage Microsoft and others to export, but Microsoft is already an aggressive exporter. So the tax break is in effect a bonus to encourage Microsoft to do something it already does...
...trade deficit, the object of these legislative exercises? The nation has run deficits in all but one of the 26 years since the tax breaks on export income were enacted in 1971. Total deficits for those years: $2.3 trillion...
...past five years, a time when AlliedSignal's financial numbers have been moving up smartly--profits increased 185%, to $1.2 billion, and dividends rose 82%, to $295 million--the company has collected more than $150 million in corporate welfare from federal and state governments. There have been federal export subsidies; Eximbank projects in China, India and Venezuela; and research contracts with the Department of Energy. Louisiana has excused the company from paying nearly $2 million annually in real estate taxes. Kansas came up with a package of incentives valued between $11 million and $14 million to persuade Allied to erect...