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Byrd Dropping
The Byrd Amendment, which funnels revenue from antidumping tariffs directly to the companies that requested the tariffs in the first place, may finally be dead:
The U.S. House of Representatives voted on Friday to kill a trade program that has paid more than $1 billion to U.S. companies since 2000 and been declared illegal by the World Trade Organization.
Congressional investigators released a report in September showing that nearly $500 million in payments under the program went to just five companies, and that two-thirds of total payments went to three industries: bearings, candles and steel.
Or not:
The Senate's $35 billion package of budget cuts leaves the measure intact.
GAO report here. Senator Byrd (D-W.V.) explains that he justs wants foreigners to "play by the rules" here.
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