House Votes to Kill Byrd Amendment
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Just a quick update to this chain to note that the House of Representatives, in its package of budget cuts, also included a provision to repeal the Continued Dumping and Subsidy Offset Act, 19 U.S.C. 1671 §754 (a/k/a the "Byrd Amendment").
The Byrd Amendment is among the most brazen and obnoxious examples of the Politics of Pull ever to come out of Congress. Not only is it a mindless, counterproductive trade barrier (in the form of duties) to restrict imports for the sake of indirectly propping up politically favored industries here in the U.S., but it is simultaneously a direct subsidy (i.e., corporate welfare) to those industries, since the duties collected under the Byrd Amendment are then given to the protected businesses rather than to the Treasury.
Great gig if you can get it. And if the House, in a rare moment of non-stupidity, doesn't vote to take it away.
Unfortunately, the Senate version of the budget bill preserves the Byrd Amendment. Its future in conference committee is unclear. Also keep in mind that the "repeal" is of the transfer of the monies collected to the protected industries, not the duties themselves. Truly free trade is still a bit too much for our hack politicians to embrace.
Hat tip to Hit & Run.
The Byrd Amendment is among the most brazen and obnoxious examples of the Politics of Pull ever to come out of Congress. Not only is it a mindless, counterproductive trade barrier (in the form of duties) to restrict imports for the sake of indirectly propping up politically favored industries here in the U.S., but it is simultaneously a direct subsidy (i.e., corporate welfare) to those industries, since the duties collected under the Byrd Amendment are then given to the protected businesses rather than to the Treasury.
Great gig if you can get it. And if the House, in a rare moment of non-stupidity, doesn't vote to take it away.
Unfortunately, the Senate version of the budget bill preserves the Byrd Amendment. Its future in conference committee is unclear. Also keep in mind that the "repeal" is of the transfer of the monies collected to the protected industries, not the duties themselves. Truly free trade is still a bit too much for our hack politicians to embrace.
Hat tip to Hit & Run.
Related Posts (on one page):
- House Votes to Kill Byrd Amendment
- Byrd Amendment Only Benefitting a Handful of Companies
- WTO & Byrd Amendment: Do Two Wrongs Make A Right?
Posted by Kip on
21 November 2005
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