Mr. Speaker, I rise in strong support of this legislation, the International Anti-Bribery and Fair Competition Act of 1998.
Bribery distorts the free market system and provides unfair advantages.
It does so at the expense of those unwilling or unable to use similar tactics. Those companies or governments that participate in bribery take away an opportunity from someone willing or required to play by the rules. In such an environment, bribery is allowed to flourish. Unfortunately, many foreign nations do not have similar laws as we do in the United States or certainly enforce them. As a result, American companies and American workers suffer a significant competitive disadvantage.