Monthly Archives: January 2015

In The Hill: “Failure to Renew GSP is America’s Hidden Fiasco”

In The Hill today, Rick Helfenbein wrote an amazing article about the the “hidden fiasco” that is Congress’ continued inaction on GSP. As he writes about expiration: small operators were suddenly forced to pay an unexpected tax in the form … Continue reading

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House, Senate Hearings on Trade

Today, both the Senate Finance and House Ways and Means Committees are both holding hearings on trade. We’ll be tweeting out facts and figures about GSP expiration on Committee members all day and would greatly appreciate if you would retweet … Continue reading

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An Unfortunate Milestone for American Companies: $1 Billion in Taxes Paid Because of Congress’ Failure to Renew GSP

Today marks an unfortunate milestone for American companies: $1 billion in taxes paid because of Congress’ failure to renew GSP. Obviously, these costs were not incurred overnight. It’s the cumulative effect of 540 days without GSP – with an average … Continue reading

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Too Late to Save This GSP Importer, But Not Too Late for Others

We heard yesterday from someone that used to import under GSP. Sadly, he and his wife no longer own the business they started together more than 10 years ago. Why? GSP expiration caused a major hit on cash flow and … Continue reading

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For GSP Importers, the State of the Union Could Be Stronger

President Barack Obama will begin his annual State of the Union address momentarily. It will touch on a number of issues, includes taxes, foreign policy, education, and yes, even trade. Some proposals will be viewed as partisan, and others will … Continue reading

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Which States’ Companies Are Paying Higher Taxes Because of GSP Expiration? All of Them.

As we posted the other day, GSP expiration cost American companies $55 million in new taxes in November 2014, bringing the total taxes paid from August 2013 to November 2014. With GSP expiration, it’s not the case that just a … Continue reading

Posted in Brazil, California, Florida, Georgia, GSP, Illinois, Maryland, New Jersey, New York, North Carolina, Ohio, South Dakota, Sri Lanka, Texas, Thailand, West Virginia, Wyoming | Leave a comment

GSP Expiration Cost American Companies Another $55 Million in November 2014

Based on data released last week, continued GSP expiration cost American importers another $55 million in November 2014. For New Mexico, November 2014 was the most costly month yet in terms of unnecessary taxes paid because of GSP expiration, driven … Continue reading

Posted in California, Cambodia, GSP, Kentucky, Montana, New Jersey, New Mexico, New York, Philippines, Rhode Island, Texas, Turkey, Utah | Leave a comment

Welcome, 114th Congress! Now Please Renew GSP.

On a snowy day in DC, the 114th Congress was officially sworn in today. After a year-and-a-half of inaction on the expired GSP program, the new Congress couldn’t get here soon enough. The House alone has nearly 60 new members … Continue reading

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