Issues in international tax policy.

INTRODUCTION

The tax bill popularly being considered by the House and Senate to repeal the export subsidy is the culmination of a whole series of challenges to the legality of a subsidy that was originally motivated by dint of the imbalances arising from a fixed exchange rate. If any provision has at any time demonstrated the difficulty of eliminating a tax benefit one time bestowed, this one is a placard child. Despite the finding that the provision (and its predecessors) contravenes World Trade Organization dominions and is now permitting countervailing tariffs, and despite the lack of a uninjured social welfare justification for subsidizing exports, the