Exporters fuming over stalled tax bill

09/20/2004 | ABC News

More than 400 companies whose exports face increasing punitive tariffs in Europe wrote to urge Congress to act on a bill that would alter an export tax subsidy the World Trade Organization says is illegal. EU officials are raising the tax on certain U.S. goods by 1 percentage point each month Congress fails to repeal the export subsidy. "When you are looking at this size of losses, the pain is going to be intense unless Congress acts," a tax specialist with the American Farm Bureau Federation said.

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