New POLL: Retroactive GSP Renewal

Been down on Capitol Hill for meetings this week on GSP renewal with Congressional staff and one issue keeps popping up: retroactive renewal (i.e., refunds for tariffs paid to date).  The thinking is that any renewal will be limited in duration based on the funding available.

However, the question remains: given a limited GSP extension, would companies prefer a refund of past duties paid but less certainty about future GSP benefits?  Or are they willing to forgo money paid in order to guarantee GSP benefits further into the future?

Since this question will be a key to the renewal debates going forward, we decided to toss it out to the peanut gallery.

Edit: Given its similarity to our other poll, we decided to combine them into one poll available here.

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2 Responses to New POLL: Retroactive GSP Renewal

  1. Pingback: Welcome to Renew GSP Today | Renew GSP Today

  2. David Rose says:

    Good morning. I think for once I agree with my accountant! He has coached me for years against a ROTH IRA saying a bird in the hand is better than a bird in the bush. Take the tax deduction now because the Roth allowance could be rescinded in the future (al la raising social security age, etc)

    Same with forgoing the GSP now for an extension later. Give me the money now. With the way congress tends to waif on money issues who knows if the congress’s word today will hold tomorrow.

    All this however is moot because, if the argument in favor of GSP holds water, it should indicate that the tariff paid to the government was unearned by them and should be returned, AND the tariff should be allowed in the future.

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