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