Article: House Corporate Tax Bill Becomes Magnet

MARY DALRYMPLE, AP Tax Writer
AP Online
05-19-2004
Dateline: WASHINGTON
House lawmakers looking for an election-year boat in which to float their favorite legislation have started eyeing a corporate tax bill that's urgently needed to stop an escalating trade fight with Europe.

Congress wants to pass the corporate tax bill this year because it would end punitive sanctions being imposed on some U.S. exports to Europe. The sanctions escalate each month and punish the United States for not acting quickly enough to get rid of a tax break that international trade courts declared an illegal subsidy.

The pressing need makes the bill a prime magnet during an election year, when few other bills are ...

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