WASHINGTON, Feb. 1 (UPI) -- Congress repealed the so-called Byrd Amendment Wednesday on a 216-214 House vote when it passed the Deficit Reduction Act of 2005.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.
The Consuming Industries Trade Action Coalition hailed the repeal of the Byrd Amendment.
"CITAC congratulates Congress for repealing the Byrd Amendment," said CITAC head 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."
