The Tax Foundation yesterday released a press release and report arguing that Congress should accelerate tax relief to protect U.S. exporters from an upcoming WTO tax ruling:

As the E.U. continues to challenge U.S. tax treatment of exports, the Tax Foundation has released a new report suggesting that Congress accelerate tax relief for companies in anticipation of a WTO ruling that may harm U.S. exporters. This year the WTO is expected to rule on whether the transition relief in the 2004 FSC/ETI repeal (American Jobs Creation Act) constitutes an illegal trade subsidy. If so, U.S. exporters may be forced to bear costly retroactive tax changes.