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Taxing Nafta

International Outlook: Global Wrapup


House Majority Leader Richard A. Gephardt (D-Mo.), other fence-sitting Democrats, and environmental groups are insisting that the Clinton Administration agree to a cross-border tax or some other revenue mechanism to pay for the North American Free Trade Agreement. They are privately circulating estimates of up to $30 billion for the costs of environmental cleanup in border states and retraining U.S. workers whose jobs migrate to Mexico. Both the Administration, which opposes a cross-border tax as the antithesis of free trade, and the Congressional Budget Office think those numbers are way too high.

We Almost Lost the Nasdaq

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