As we noted yesterday, GSP expiration cost American companies $62 million in October. California companies paid an estimated $9.1 million, but more than a third of states faced an extra million dollars in import taxes because GSP remained expired. Taxes paid by companies in both Indiana and Virginia jumped more than 30% from September to...
Continue readingLast Friday, Politico had an article about the (really) do-nothing Congress. According to the article: “So far, this Congress has only enacted 49 laws, the fewest since at least 1947, when the Congressional Record began tallying legislative activity on a yearly basis. In fact, the 80th Congress — famously dubbed the “do nothing&rd...
Continue readingAs noted yesterday, GSP expiration cost American companies more than $56 million in September alone, and more than $110 million through the first two months. Not surprisingly, big states pay the most, but companies in all states are stuck paying higher taxes on previously duty-free goods. Here are the top 10 states ranked by the...
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