In this paper, we present a unified feature-based theory of complement, adj
unct, and subject extraction, in which there is no need either for valence
reducing lexical rules or for phonologically null traces. Our analysis rest
s on the assumption that the mapping between argument structure and valence
is defined by realization constraints which are satisfied by all lexical h
eads. Arguments can be realized as local dependents, in which case they are
selected via the head's valence features. Alternatively, arguments may be
realized in a long-distance dependency construction, in which case they are
selected via the head's slash features. Furthermore, we argue that English
post-verbal adjuncts, as well as complements, are syntactic dependents sel
ected by the verb, thus providing a uniform analysis of complement and adju
nct extraction. Finally, we show that our analysis provides an alternative
treatment of subject extraction and we offer a new account of the that-trac
e effect.