Statement on the Senate's Approval of the Omnibus Trade and Competitiveness Act of 1988

 

August 3, 1988

 

I am pleased the Senate has responded to my call yesterday and has joined the House by quickly approving, by an overwhelming bipartisan vote, a responsible trade bill that includes repeal of the windfall profits tax and many of the elements proposed as part of my 1987 competitiveness initiative. While this bill is not perfect -- no bill 1,128 pages in length ever is -- on balance it will strengthen America's international competitiveness. The bill therefore merits my approval when it reaches my desk.