In The Hill today, Rick Helfenbein wrote an amazing article about the the “hidden fiasco” that is Congress’ continued inaction on GSP. As he writes about expiration: small operators were suddenly forced to pay an unexpected tax in the form of previously waived duties. Real profits were yanked right out of their bottom line, and...
Continue readingToday, both the Senate Finance and House Ways and Means Committees are both holding hearings on trade. We’ll be tweeting out facts and figures about GSP expiration on Committee members all day and would greatly appreciate if you would retweet – particularly if they apply to your state/district. The Coalition also will be submitting offi...
Continue readingToday marks an unfortunate milestone for American companies: $1 billion in taxes paid because of Congress’ failure to renew GSP. Obviously, these costs were not incurred overnight. It’s the cumulative effect of 540 days without GSP – with an average daily cost of $1.85 million in new taxes. Nearly 18 months of expiration, far surp...
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