Today 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...
Continue readingWe heard yesterday from someone that used to import under GSP. Sadly, he and his wife no longer own the business they started together more than 10 years ago. Why? GSP expiration caused a major hit on cash flow and made it difficult to fulfill orders. By the time we surveyed companies in September 2014...
Continue readingPresident Barack Obama will begin his annual State of the Union address momentarily. It will touch on a number of issues, includes taxes, foreign policy, education, and yes, even trade. Some proposals will be viewed as partisan, and others will simply be controversial (regardless of party). Many will be DOA in Congress. Yet programs like...
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