Category: NFTC In the News

Rep. Camp Unveils Business-Friendly Corporate Tax Plan

Posted on by dcadmin

Excerpt: Rep. Dave Camp (R., Mich.), the House Ways and Means chairman, outlined a business-friendly plan for overhauling the U.S. tax code for companies, including cutting corporate tax rates by 10 percentage points and ending the longstanding rule that seeks to tax American multinationals on their overseas earnings…. Reactions from business groups tended to focus on the issues they care most about. For instance, the Business Roundtable and the National Foreign Trade Council – two groups that comprise major multinationals – were thrilled about the shift to a territorial system. “Moving to a territorial tax system and reducing the corporate tax rate will allow companies to grow in the United States, and will also attract more in-bound investment, leading to more job growth, said Cathy Schultz, vice president of the NFTC.

http://blogs.wsj.com/washwire/2011/10/26/rep-camp-unveils-business-friendly-corporate-tax-plan/

Business Leaders Applaud FTA Passage

Posted on by dcadmin

Excerpt: The US congressional passage of free trade agreements with Colombia and Panama are receiving widespread praise among U.S. and Latin American business leaders…. The National Foreign Trade Council (NFTC) applauded Congress and the Administration of President Barack Obama for working together to approve the FTAs and to renew Trade Adjustment Assistance (TAA), the Generalized System of Preferences (GSP) and the Andean Trade Preference Act (ATPA). “We are very pleased with the outcome … and applaud Congress and the Administration for working together to advance the U.S. trade agenda through approval of the FTAs with Colombia, Panama and South Korea, as well as the renewal of TAA, GSP and the Andean trade preferences,” NFTC President Bill Reinsch said in a statement. “These agreements and programs will boost the U.S. economy and create and support thousands of American jobs.http://www.latinbusinesschronicle.com/app/article.aspx?id=5176

Analysis: Boehner Stands Firm Against China Currency Bill

Posted on by dcadmin

Excerpt: A controversial U.S. bill aimed at forcing China to raise the value of the yuan has cleared the Senate but it looks likely to be shelved in the House of Representatives. Other tactics may yet be tried. An attempt by Democrats on Wednesday to append the China currency bill to a free trade agreement with Colombia failed. “On whether he (Boehner) can keep it from coming up, as a procedural matter, yes, as long as he can keep Republicans from signing the discharge petition, which thus far he has been able to do,” said Bill Reinsch, president of the National Foreign Trade Council, which opposes the China currency legislation. “Even so, I suspect pressure for action will build up,” Reinsch added.http://uk.reuters.com/article/2011/10/12/us-china-usa-yuan-idUKTRE79B07M20111012