Today, the Coalition for GSP and more than 230 American companies and associations sent a letter to the Chairmen and Ranking Members of the Senate Finance and House Ways and Means Committees urging Congress to renew GSP before it expires on July 31. The letter stated that:
The GSP program saved American companies nearly $750 million in import duties in 2012. When GSP expired at the end of 2010, U.S. companies faced higher import taxes for more than 10 months. To compensate for these unexpected costs, some employers were forced to freeze salaries, eliminate benefits, delay capital investments, and even lay off workers. American businesses – particularly small businesses — cannot afford for GSP expire again.
As noted in the accompanying press release, the 234 letter signatories are based in 38 states plus the District of Columbia and include:
- Twenty-one business and trade associations
- Numerous members of the Fortune 500 such as General Electric, Home Depot, Coca-Cola, Caterpillar, Dow Chemical, and Cummins
- Over 100 very small businesses with less than 20 employees
- Companies importing from 30 different GSP beneficiary countries
If you’re on the letter, make sure to forward the final version to your Senators and Representatives to show your support. Even if you’re not on the letter, send it anyways as proof that you’re not alone in wanting Congress to renew GSP!
Then, add your name to our free GSP supporter list so we know to contact you about the next one! Four companies already have today, and we’ll continue adding names until Congress renews GSP.