The Importance of Renewing GSP
By Dan Anthony, Executive Director, Coalition for GSP
These benefits generally are recognized – when Congress last renewed GSP there were big bipartisan votes in both the Senate and the House – but the challenge has often been getting that vote. Failure to hold a vote in both the House and Senate caused U.S. companies to pay about $1.3 billion in unnecessary taxes between mid-2013 and mid-2015. As such, companies must re-double their efforts to show the importance of renewing GSP before it expires again on December 31, 2017.
As part of that, the Coalition for GSP today released new state-by-state reports on GSP imports, savings, and company benefits for 2015.
The Coalition also created a new website section with shareable graphics. In addition to infographics with 2015 national GSP imports and 2016 monthly snapshots (updated as new data become available),the page also contains new state-specific infographics on 2015 savings for all 50 states.
We are also encouraging companies to continue signing on to our free GSP Supporter List. Stay tuned for more way to get involved and show the importance of imports, and GSP specifically, for America.