Senate Passes GSP Legislation (Again); Now on to the House (Again)
A few minutes ago, the Senate invoked cloture on the trade preferences bill by a vote of 76-22. (The image shows 77-23, but two Senators must’ve switched to “not voting” at the last minute). Before voting, Senate leaders reached an agreement that if cloture was invoked, “all post cloture timed be considered expired.” W...
Continue reading661 Companies and Associations Send Letter Urging Congress to Renew GSP, Other Preferences
This morning, the Coalition for GSP joined with 660 organizations to send a letter urging all members of Congress to support passage of the Trade Preferences Extension Act of 2015 included in H.R. 1295. The 661 organizations included 28 associations and 633 companies. The companies are headquartered in 46 states, 290 congressional districts, and th...
Continue readingSenate Cloture Vote on GSP Expected Tomorrow (June 24); Contacts Needed TODAY
Busy week on trade as we noted yesterday. The Senate invoked cloture on the TPA bill just a moment ago, which sets up a final vote on TPA later tonight or tomorrow – and then a cloture vote on the GSP/preferences bill tomorrow. Given the short time frame, it’s crucial that GSP importers contact their...
Continue readingIs This the Week Congress Renews GSP? Here’s How to Help.
As you probably know, GSP renewal legislation has passed the Senate and then the House. However, since the House bill differed from the Senate-passed one, the Senate must vote again. Further complicating matters is a new plan for the Senate to make additional changes that will require yet another House vote – and a lot...
Continue readingHouse Passes GSP Renewal Legislation 397-32!
Earlier this afternoon, the House voted 397-32 in favor of H.R. 1295, which included the GSP renewal provisions previously passed by the Senate. (UPDATE: here is how everyone voted.) Thank you again to everyone that made calls, sent emails, tweeted, etc in advance of today’s vote! While the core GSP provisions are the same, there...
Continue readingHouse Vote on GSP Renewal Expected TODAY
This morning, House Republican leaders announced that they expect the House to vote on GSP later today (and tomorrow on the other trade bills). Debate will start at 12:00PM, and votes are expected later in the afternoon. We need everyone to make one last round of calls to your Representative to “urge support for HR...
Continue readingApril 2015: The Most Expensive GSP Expiration Month Yet for 9 States
Based on data released this week, continued GSP expiration cost American importers another $60 million in April 2015. At nearly $2 million a day in higher taxes, GSP expiration’s estimated cost through today (June 5) is about $1.23 BILLION paid by American companies. Since the Senate approved GSP legislation by a vote of 97-1, American...
Continue readingBusiness Associations Urge House to Take Up Senate Preferences Bill
In a letter sent today to House leaders, the Coalition for GSP and 29 other business associations urged the House to take up and pass the version of the trade preferences bill approved by the Senate in May. Since then, American companies have paid more than $30 million in new taxes because GSP remains expired....
Continue reading$13 Million and Counting…
That’s the approximate taxes paid by American companies on GSP-eligible goods since the Senate voted 97-1 to renew GSP last week. With the House recessing for Memorial Day, that will increase to about $33 million by the time Congress returns to DC on June 1. With benefits delayed 30 days between between enactment and implementation...
Continue readingAmerican Manufacturers Face Higher Costs Because of Continued GSP Expiration
Like the jobs debate, many people assume that if exports are goods for US manufacturers, imports must be bad. When it comes to GSP, nothing could further from the truth. Raw materials, components, and parts have accounted for more than 70 percent of GSP imports since the program expired. Though industrial tariffs tend to be...
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