The other day, we highlighted a comment on the impacts of GSP expiration made by a small manufacturer with operations in both Ohio and Texas. Today, we wanted to share the thoughts of a small business owner in the Cincinnati area:
We may be a very small company in comparison to other companies that also import into this country, but when you add all of us little companies — it does and will matter to the bottom line of the total economy. We don’t have the ability to take a 4.9% cut to our profit margins.
Most GSP importers are just like this company: small businesses that can’t afford to pay the higher taxes and don’t have the ability to raise prices, either because it would lead to a loss of sales or their (much larger) customers refuse to pay higher prices.
These small businesses are the ones that need GSP renewed the most.
If you’re paying higher taxes because GSP expired, please take a moment to answer the survey. Company responses like this one are vital to our efforts to educate Congress about the harm GSP expiration is causing and the need to pass a swift, retroactive renewal.