4 in addition the wto notification contains about 170

Info icon This preview shows pages 48–50. Sign up to view the full content.

View Full Document Right Arrow Icon
notification also contains a description of the Emergency Steel Loan Guarantee Act of 1999. 4. In addition, the WTO notification contains about 170 programmes maintained at state level, providing aid to rural and under-developed regions, and enterprise zones, as well as support to various activities. Steel accounted for the largest number of notified state programmes (six) and the highest amount of notified subsidies (ranging from US$6 million to US$107 million). Subsidies generally take the form of tax credits, although loans and grants are also provided. 5. The notification was completed by a question-and-answer process in the WTO Committee on Subsidies and Countervailing Measures. 191 Exchanges focused on assistance to aerospace, energy and fuel, fisheries, and the steel sector. 192 (b) Measures and types of assistance 1. Government assistance to businesses can be granted at federal level as well as by state and local governments. The main instruments of support include tax expenditures, financial outlays, and 189 This section describes the main forms of government assistance extended to businesses. Assistance to agriculture is described in Chapter IV, as is financial support granted to airlines. 190 WTO document G/SCM/N/71/USA/Suppl.1, 29 October 2002. 191 Article 6 of the Agreement on Subsidies and Countervailing Measures provides for written requests for information on notified subsidies, and on programmes that are alleged not to have been notified. 192 U.S. responses are reproduced in WTO documents G/SCM/Q2/USA/25, 29 October 2002 and G/SCM/Q2/USA/26, 20 November 2002; a separate answer was provided regarding assistance to the fisheries sector (G/SCM/Q2/USA/27, 8 August 2003).
Image of page 48

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
United States WT/TPR/S/126 Page 80 credit programmes. According to a study carried out by the Congressional Budget Office in 1995, federal government support to business relies mostly on tax expenditure; financial outlays and credit programmes account for a smaller share of federal assistance. 193 2. There is a considerable degree of transparency concerning assistance programmes although, like in other countries with federal systems, assistance is granted at several levels of government and may be difficult to document at sub-federal levels. The United States notifies regularly to the WTO subsidies to businesses. Related information may also be found in the Catalog of Federal Assistance Programmes, a government-wide compendium of federal programmes, projects, services, and activities that provide assistance or benefits to the U.S. public (and which, thus, encompasses much more than assistance to businesses). 194 Grants available from the Federal Government are also documented. 195 In addition, all federal grants are published in the Federal Register when they are announced. An inventory of state incentives is available from the National Association of State Development Agencies, a private entity. 196 3. The Federal Budget contains a list of all income tax expenditures, defined as revenue losses from tax exemptions, incentives or concessions that benefit individuals or businesses. 197 The largest
Image of page 49
Image of page 50
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern