House backs effort to sink foreign ship subsidies.

Details the House approval of a bill (HR 2056), on May 13, 1992, which would levy penalties on ships that are built or repaired using subsidies from foreign governments. The measure's repealment of a 1990 Coast Guard tax on recreational boats; The debate on how the penalties would impact negotiations with other countries over shipbuilding subsidies; Bush administration threat to veto the legislation; More.