House Republicans And U.S. Chamber Team Up To Weaken Anti-Bribery Law (VIDEO)Ryan J. Reilly | TPMMuckraker
June 14, 2011, 2:22PM
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The U.S. Chamber of Commerce thinks a law that prohibits American businesses from paying bribes to foreign government officials is hurting U.S. companies, and Republicans in the House agree. But don't accuse them of being pro-bribery.
"Nobody here is in favor of bribery," said Rep. Jim Sensenbrenner (R-WI)
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:rofl::rofl::rofl::rofl::rofl::rofl: <emphasis mine> :evilgrin:
at a Judiciary Committee hearing Tuesday examining the 1977 Foreign Corrupt Practices Act (FCPA). But Sensenbrenner and House Republicans made clear they intend to change the law as it currently stands.
Sensenbrenner called the FCPA statute vague and said it was too open to the interpretation of the Justice Department, arguing that the feds could even apply the law to paying for cab rides for their overseas workers if they wanted. But a Justice Department representative pointed out that all the panelists advocating for reform couldn't point out one example of when they believed the feds had overreached by prosecuting over a cup of coffee or taxi ride and touted recent cases involving bribery with a Ferrari, a yacht and a $170,000 payment toward a credit card bill.
Sensenbrenner argued that companies "lack guidance on how expensive a gift must be to be considered a bribe" and said prosecutions should be more effective, fair and predictable. He argued that the way the law could be enforced could "put at a significant disadvantage to our foreign competitors."
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Link:
http://tpmmuckraker.talkingpointsmemo.com/2011/06/house_gopers_us_chamber_team_up_to_weaken_anti-bribery_law_video.php:kick:
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