GSP expiration cost American companies $77 million in extra taxes in January. The “potential” savings – assuming they are eventually refunded – are over $13 million (21%) higher than savings in January 2017. Put differently, GSP usage has taken off and the pain of expiration will be worse than years past. The map below shows...
Continue readingLast week, the House overwhelming approved GSP renewal legislation (HR 4979) but a vote of 400-2. The statements in support of GSP renewal were as strong as the final vote. Several Members highlighted how GSP savings can help companies lower costs, hire workers, and invest in their businesses and employees: Ways and Means Chairman Kevin...
Continue readingTonight, the House passed legislation (H.R. 4979) to renew GSP by an overwhelming margin of 400-2. Details of the bill are available here. Dan Anthony, Executive Director of the Coalition for GSP, said the following on passage of H.R. 4979 by a vote of 400-2: “The Coalition for GSP applauds today’s overwhelming passage of legislation...
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