The VAT tax must be amended for Americans to have access to fair trade. Bill H.R. 2600 proposes solutions to level the playing field so Americans can compete in the world market. Read more about bill H.R. 2600.

Below are facts you need to know about the VAT tax, which devastates the ability of U.S. goods to compete in world markets.

The VAT tax on U.S. exports combined with the rebate provided to foreign competition placed the U.S. at a disadvantage of $428 billion in 2006.

The VAT contributed to the loss of 3.2 million manufacturing jobs since 2000.

Americans have accumulated $4.1 trillion in trade deficits since 2000, due in part the to VAT tax.

149 countries enacted the VAT tax in 2007, the U.S. does not.

94 percent of the countries the U.S. trades with impose a VAT tax, as of 2006.

Foreigners paid their producers $218.2 billion in VAT rebates in 2006, while collecting $122.4 billion from American producers in VAT taxes.

The European Union countries impose an average VAT rate of 19.4 percent, along with a tariff of 4.4 percent, totaling a 23.4 percent levy on U.S. goods and services.

The VAT was a contributor to the outrageous trade deficit of $750 billion in 2006.

The VAT motivates U.S. jobs, manufacturing and companies to relocate offshore.

Click here to see how the VAT tax began with one country in 1948 and spread to 149 by 2006.

Click here to see the VAT tax rate by country.

Click here to learn how the countries of the European Union reduced tariffs, but raised VAT tax rates, negating any market openings in the process.

Front Page Photo by Thomas Hawk- Flickr © Some rights reserved