For many GSP importers, the retroactive renewal passed by Congress in October 2011 feels like just yesterday. Most companies didn’t start receiving refunds until early 2012. Yet here we are, one year later…and GSP expiration is creeping up once again.
While the mid-year expiration isn’t the only challenge facing GSP renewal this year, it can’t be discounted. In fact, even the “185 days” figure is a bit misleading, as the House of Representatives is scheduled to be in session for just 77 days between February 1 and July 31.
Furthermore, the August recess taken by both the House and Senate (calendar here) almost guarantees that any GSP expiration will last at least a month, since Congress won’t return to DC until September 9. GSP expiration cost GSP importers nearly $2 million a day in 2011, so the August recess could prove very expensive if Congress doesn’t renew GSP before July 31.
Companies that care about GSP renewal need to get engaged – and fast. They need to make sure Congress understands that inaction on GSP would have a tangible, negative impact on constituents. How can they do this? The Coalition provides two immediate options:
The first (and easiest) step is to join the 100+ companies and associations that have gone on the record in support of GSP renewal by adding your organization to our free GSP Supporter List.
Those looking to do more, like support our educational and grassroots efforts, can also join the Coalition for GSP. In return for helping fund an ambitious GSP renewal campaign, you’ll receive members-only updates and personalized lobbying assistance.
Whatever you choose to do to support GSP renewal, don’t want too long. The clock is ticking…