Wednesday, February 01, 2006
Congress kills Byrd Amendment
By the slimmest possible margin, the Byrd Amendment was repealed today. But the repeal will be delayed for 2 years, and disbursements will continue for applications received up to a year and 3/4 from now.
United Press International - NewsTrack
Congress repealed the so-called Byrd Amendment Wednesday on a 216-214 House vote when it passed the Deficit Reduction Act of 2005.
President Bush says he will sign the bill, which contains a delayed repeal of the Continued Dumping and Subsidy Offset Act, as the law named for Sen. Robert Byrd, D-W.Va., is formally known.
In a compromise reached between House and Senate conferees, the repeal
will be delayed for two years and Byrd Amendment distributions will continue
for applications made prior to Oct. 1, 2007.
Since 2001, the Byrd Amendment has resulted in payments of more than $1.26 billion to U.S. companies affected by low-cost imports. Fully $476 million of that amount has gone to one corporation, the Timken Co. and its subsidiaries. And last year, more than half of all pay-outs went to five companies.
CITAC, of course, is happy.
CITAC Cheers Byrd Amendment Repeal by Congress
CITAC congratulates Congress for repealing the Byrd Amendment," said CITAC Executive Director Steve Alexander. "As recently as last month, many experts were saying we would never obtain congressional repeal of the Byrd Amendment during the current session. We congratulate the numerous consuming industries, consumer groups and organizations that worked together so well to make this day possible. CITAC is proud to have taken a leading role in this effort.
United Press International - NewsTrack
Congress repealed the so-called Byrd Amendment Wednesday on a 216-214 House vote when it passed the Deficit Reduction Act of 2005.
President Bush says he will sign the bill, which contains a delayed repeal of the Continued Dumping and Subsidy Offset Act, as the law named for Sen. Robert Byrd, D-W.Va., is formally known.
In a compromise reached between House and Senate conferees, the repeal
will be delayed for two years and Byrd Amendment distributions will continue
for applications made prior to Oct. 1, 2007.
Since 2001, the Byrd Amendment has resulted in payments of more than $1.26 billion to U.S. companies affected by low-cost imports. Fully $476 million of that amount has gone to one corporation, the Timken Co. and its subsidiaries. And last year, more than half of all pay-outs went to five companies.
CITAC, of course, is happy.
CITAC Cheers Byrd Amendment Repeal by Congress
CITAC congratulates Congress for repealing the Byrd Amendment," said CITAC Executive Director Steve Alexander. "As recently as last month, many experts were saying we would never obtain congressional repeal of the Byrd Amendment during the current session. We congratulate the numerous consuming industries, consumer groups and organizations that worked together so well to make this day possible. CITAC is proud to have taken a leading role in this effort.
