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Act of 1986, including section 59(a)(2), would apply
"notwithstanding any treaty obligation of the United States in
effect on the date of the enactment of the Reform Act". The
Third and Fourth Protocols on which petitioners rely, became
effective after Congress enacted section 59(a)(2) of the Code and
section 1012(aa)(2) of TAMRA. Neither of the later protocols
mentions the limitation of the alternative minimum tax foreign
tax credit imposed by section 59(a)(2) or section 1012(aa)(2) of
TAMRA. Thus, neither the Third or Fourth Protocol contains a
clearly expressed intent to supersede section 59(a)(2).
To the contrary, the language of the Third Protocol
contemplates that the U.S.-Canada treaty accepted the changes to
U.S. revenue laws that were made by the Tax Reform Act of 1986,
including the enactment of section 59(a)(2). As noted above,
article 1 of the Third Protocol expressly provides that the taxes
existing on March 17, 1995, to which the treaty applies, in the
case of the United States, are "the Federal income taxes imposed
by the Internal Revenue Code of 1986." It was also the statute
that substantially revised the alternative minimum tax on
noncorporate taxpayers and enacted the predecessor of section
59(a)(2). Tax Reform Act of 1986, sec. 701, 100 Stat. 2320.
Section 1012(aa)(2) of TAMRA which codified the last in time rule
with respect to the revision of the alternative minimum tax rules
was enacted as a technical amendment to the Tax Reform Act of
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