ABSTRACT
The Emergency Committee for American Trade had been supporting the repeal of the 30 percent withholding tax for a long time and at the 1984 Ways and Means Hearing continued to do so, advocating the merits of H. R. 3025, the Gibbons-Conable bill. The Coalition of Service Industries explained that, according to both H. R. 3025 and H. R. 4029, U. S-controlled foreign corporations would be excluded from the benefit of the exemption from the 30 percent withholding tax. The Public Securities Association maintained that the repeal of the thirty percent withholding tax on interest paid to non-resident investors would help the U. S. Government and the secondary mortgage market agencies to diversify the sources of their funding. Touche Ross' Steven Hannes was the witness to testify before the meeting was adjourned. Other groups gave their view on the repeal in written submissions for the record.
