“We could not buy new equipment and computers. We have been eating the bulk of the costs ourselves because we can not pass them on to clients. Our cost of capital financing costs have risen tremendously with our bank, and the GSP expiration has DEFINITELY impacted our bottom line. The viability of our 25 year...
Continue readingFriday marked the one-year anniversary of GSP’s expiration, but Congress is out of DC until September 8th. Earlier this year, we published a report on the impacts of GSP expiration and we want to use the August recess to update that information. The updated survey (with minor modifications based on congressional staff questions) is below....
Continue readingToday marks the one year anniversary of GSP expiration. Once again, Congress is leaving DC for a 5-week recess, leaving importers stuck paying higher taxes without any indication of when they might find some relief. So what has changed? For starters: American companies have paid an estimated $670 million in unnecessary taxes. That number increases....
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