GSP Renewal Legislation Introduced

Legislation to renew GSP was introduced on April 16th by Senate Finance Committee Chairman Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR), and House Ways and Means Committee Chairman Paul Ryan (R-WI) and Ranking Member Sander Levin (D-MI). The legislation would renew GSP through December 31, 2017, and also provide for refunds on GSP eligible entries during the expiration period. GSP expired on July 31, 2013. Importers are encouraged to contact their Congressional representatives to urge passage of this bill for retroactive renewal of GSP. Congressman Levin said that GSP’s “renewal is both welcome and long overdue.”

Shapiro will continue to keep you posted on this important bill.