Everyone likes to start the weekend on a positive note, right!?!? So we’re sorry to report that new data released this week showed that American companies paid another $61 million in unnecessary taxes in April because Congress still has not renewed the Generalized System of Preferences (GSP) program. More than a quarter of those taxes...
Continue readingWe spent a good chunk of last week running around Capitol Hill and meeting with House offices about the importance of renewing GSP. Every office we met with had at least one GSP supporter list company headquartered in the district – one of them had 12 constituent companies (!) – so we knew there would...
Continue readingAs 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...
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