Category: Press Releases and Statements
Reinsch: “Ambassador Froman is Right – International Trade Plays a Key Role in Our Economy”
Washington DC – National Foreign Trade Council (NFTC) President Bill Reinsch released the following statement on today’s House Ways and Means Committee hearing on the Administration’s 2014 trade agenda.
“The NFTC welcomes the remarks delivered by Ambassador Froman today during the Ways and Means Committee hearing on President Obama’s 2014 trade agenda. Ambassador Froman is right – international trade plays a key role in our economy, and more exports mean more jobs.
“Trade negotiations like the ones currently underway – the Trans-Pacific Partnership, Transatlantic Trade and Investment Partnership, Trade in Services Agreement and the World Trade Organization’s environmental goods negotiations – ensure that U.S. businesses can compete on a level playing field across the globe and that our trading partners play by the rules for a 21st century global trading system. Once completed these agreements will break down market access barriers, increasing exports and creating more American jobs. Trade is essential to stimulating economic growth.
“An important step to ensure the benefits of these agreements and future agreements is congressional approval of Trade Promotion Authority legislation, and we urge the Administration and Congress to work together to achieve this as soon as possible.”
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About the NFTC
NFTC is Celebrating our New Century in 2014! Details at www.nftc.org -The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.Follow us on:
NFTC Statement on Senate Foreign Relations Committee Markup of Income Tax Treaties and Protocols
Washington DC – National Foreign Trade Council (NFTC) President Bill Reinsch released the following statement today on the Senate Foreign Relations Committee’s passage of the pending Tax Treaty Protocol agreements with Switzerland and Luxembourg, the Tax Treaties with Hungary and Chile, and the Organisation for Economic Co-operation and Development Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
“We welcome the Senate Foreign Relations Committee’s passage of these tax treaties and protocols, as they will support the movement of trade and investment between the United States and the countries included.
“Tax treaties play a critical role in ensuring a level playing field for U.S. businesses as they engage in global trade, and the NFTC supports treaty policies that prevent double taxation on cross-border investments.
“We commend the Senate Foreign Relations Committee for recognizing the importance of these treaties to U.S. competitiveness, and we urge the Senate to follow suit and pass these agreements as soon as possible.”
On February 26, 2014, NFTC President Bill Reinsch delivered testimony before the Committee recommending ratification of the treaties and protocols under consideration today.
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About the NFTC
NFTC is Celebrating our New Century in 2014! Details at www.nftc.org -The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.Follow us on:
NFTC is Celebrating our New Century in 2014! Details at www.nftc.org -The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.Follow us on:
NFTC Statement on Senate Foreign Relations Committee Markup of Income Tax Treaties and Protocols
Washington DC – National Foreign Trade Council (NFTC) President Bill Reinsch released the following statement today on the Senate Foreign Relations Committee’s passage of the pending Tax Treaty Protocol agreements with Switzerland and Luxembourg, the Tax Treaties with Hungary and Chile, and the Organisation for Economic Co-operation and Development Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
“We welcome the Senate Foreign Relations Committee’s passage of these tax treaties and protocols, as they will support the movement of trade and investment between the United States and the countries included.
“Tax treaties play a critical role in ensuring a level playing field for U.S. businesses as they engage in global trade, and the NFTC supports treaty policies that prevent double taxation on cross-border investments.
“We commend the Senate Foreign Relations Committee for recognizing the importance of these treaties to U.S. competitiveness, and we urge the Senate to follow suit and pass these agreements as soon as possible.”
On February 26, 2014, NFTC President Bill Reinsch delivered testimony before the Committee recommending ratification of the treaties and protocols under consideration today.
USA*Engage Statement on Executive Order Broadening Sanctions Against Ukraine
Washington, DC – Today, USA*Engage released the following statement regarding the March 20th Executive Order, which proposes additional, broader sanctions against Ukraine.
“USA*Engage appreciates the diplomacy that President Obama has shown regarding Russia’s actions in Ukraine to date. The challenge going forward is strategic and the risks of miscalculation for all involved are grave.
“U.S. commercial investment across sectors in Russia is substantial, dwarfed only by the commercial interdependence between the EU and Russia. The application of economic sanctions as an immediate response tool is well rooted in both the U.S. Executive branch and Congress. The actual sanctions have been targeted, but the potential sanctions contemplated in the most recent Executive Order would do real damage to U.S. companies with no predictable result regarding Russian responses. At least, however, the President’s orders remove any warrant for Congress to legislate sanctions, which would ipso facto foreclose diplomatic adaptability.
“The strategic nature of Russia’s relations with its neighbors and the rest of the world, the history that informs those relations and the state of Russia’s internal governance argue for response and resolve on the part of the United States, the EU and NATO that may take months, indeed years to realize.
“In any case, before sanctions are broadened into veritable financial warfare, USA*Engage believes that U.S. decision-makers should fully understand the costs thereof and act only in full concert with the EU and other allies.”
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About USA*Engage
USA*Engage (www.usaengage.org) is a coalition of small and large businesses, agriculture groups and trade associations working to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad. Established in 1997 and organized under the National Foreign Trade Council (www.nftc.org), USA*Engage leads a campaign to inform policymakers, opinion leaders, and the public about the counterproductive nature of unilateral sanctions, the importance of exports and overseas investment for American competitiveness and jobs, and the role of American companies in promoting human rights and democracy worldwide.
NFTC Applauds USTR Announcement on Green Trade
Washington DC – The National Foreign Trade Council (NFTC) today welcomed the notification of Congress by the Office of the U.S. Trade Representative of the Administration’s intent to start World Trade Organization (WTO) negotiations to eliminate tariffs on a wide range of environmental goods.
Jake Colvin, NFTC Vice President for Global Trade Issues, released the following statement:
“Negotiators will find strong support within the business community for eliminating tariffs on environmentally-friendly goods.
“This initiative is a bit of mom-and-apple-pie. It’s good for economic growth and for the environment, and we hope it will be a priority for negotiators in Geneva.
“NFTC applauds the strong leadership of the White House and USTR in support of green growth over many years, and across trade forums including the WTO and in APEC.
“We look forward to working with them and our other trading partners to advance an ambitious agreement.”
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About the NFTC
NFTC is Celebrating our New Century in 2014! Details at www.nftc.org -The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.Follow us on:
NFTC is Celebrating our New Century in 2014! Details at www.nftc.org -The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.Follow us on:
eBay Inc.’s Brian Bieron to Serve as Chair of NFTC’s Trade Committee
Washington DC – The National Foreign Trade Council (NFTC) released the following statement today announcing that Brian Bieron, Executive Director of the Public Policy Lab at eBay Inc., will serve as Chair of its Trade Committee.
“Brian’s expertise and experience in international trade policy will be critical as we navigate a robust trade agenda this year from the Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership to pending Trade Promotion Authority legislation to renewal of programs such as Generalized System of Preferences and Trade Adjustment Assistance. We are looking forward to working with Brian in his new role as Chair of our Trade Committee,” said NFTC President Bill Reinsch. “We will rely on Brian’s experience and eBay Inc.’s unique role at the intersection of the physical and digital economies to inform the work of our trade committee.”
Bieron serves as Executive Director of the Public Policy Lab at eBay Inc., and has published and spoken on a broad variety of issues at the nexus of technology and commerce. Previously, Bieron led eBay’s U.S. Government Relations Team in Washington, DC, from 2004 to 2012. Prior to joining eBay, Bieron worked as a Director at Clark & Weinstock, one of Washington’s leading bipartisan lobbying and consulting firms. He also previously worked on Capitol Hill as a Congressional staffer, including service as Policy Director for former House Rules Committee Chairman David Dreier, where he played a lead role on key congressional trade and technology issues, including enactment of the North America Free Trade Agreement, the General Agreement on Tariff and Trade (GATT) Uruguay Round, Permanent Normalized Trade Relations for China and Trade Promotion Authority.
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About the NFTC
NFTC is Celebrating our New Century in 2014! Details at www.nftc.org -The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.Follow us on:
NFTC President Delivers Remarks on the Administration’s Trade Policy at the Pacific Northwest Waterways Association
Washington DC – Yesterday, National Foreign Trade Council (NFTC) President Bill Reinsch delivered remarks at the Pacific Northwest Waterways Association on the Obama Administration’s trade policy. During his remarks, Reinsch examined the outlook for trade in 2014 from the Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP) negotiations to passage of trade promotion authority (TPA) legislation to the challenges of a 21st century global trading system.
In his remarks, Reinsch stated:
“Last year when I was giving these speeches, I predicted a year with lots of activity and few results. That’s pretty much what happened. We made progress in a number of areas, but, aside from the Bali Ministerial, there were few results. And even that was hardly a huge outcome; although, just getting an agreement was a significant accomplishment. This year, had I been writing this speech two months ago, I would have said 2014 will be a year of results, but, now, eight weeks into the year, it’s beginning to look more like 2013.
“The agenda hasn’t changed. And – fair warning – it is largely issues that are indirectly rather than directly related to what you do. Almost everything begins with ‘T’ – TPA, TPP, TTIP, TISA and TAA – but there is also ITA and now EGSA. These are big deals in every sense of the word, and they reflect both the rapid changes occurring in the trading system and the evolution in countries’ strategies for dealing with multilateral gridlock.”
Click here to read the full remarks.
Miller & Chevalier and The National Foreign Trade Council Announce Results of the Eighth Annual Tax Policy Forecast Survey, Survey Respondents Say No Chance of Fundamental Tax Reform in 2014
Washington DC– Miller & Chevalier Chartered and the National Foreign Trade Council (NFTC) today announced the results of their 2014 Tax Policy Forecast Survey measuring the current perspectives of leading business tax executives on the tax legislative agenda in 2014. In light of pending changes in tax-writing committee leadership, the pending Congressional mid-term elections and competing legislative priorities, survey respondents believe tax reform is such a low priority that it might be off the agenda for 2014.
Business tax executives overwhelmingly support fundamental tax reform, but not one respondent predicted tax reform will be enacted in 2014. Respondents believe that the combination of a divided Congress and the Obama Administration’s priorities have the most negative impact on any chance of reform in 2014. Most executives chose House Committee on Ways and Means Chairman Dave Camp, who is term limited, as the most influential tax policymaker this year.
“Respondents don’t believe comprehensive tax reform can be enacted given the current legislative and political environment but are hopeful that short-term priorities such as the tax extenders package will be addressed,” said Miller & Chevalier Member Marc Gerson, former Majority Tax Counsel to the U.S. House of Representatives Committee on Ways & Means.
Most respondents were apprehensive over the tax policies tied directly to the global competitiveness of U.S. businesses. Executives believe that the enactment of revenue offsets absent a competitive tax system or competitive tax rates, the statutory tax rate and taxation of international operations are the most important concerns they would like the government to correct.
“American businesses are looking for significant tax reform that will level the playing field with the rest of the world. Survey results indicate that the distinct partisanship and lack of prioritization by the Administration has top executives concerned that the worldwide tax system and statutory tax rate will not be reviewed and reformed,” said Catherine Schultz, Vice President for Tax Policy at the NFTC.
Survey Highlights
In January 2014, Miller & Chevalier and the NFTC distributed a survey via email to leading business tax executives, including Vice Presidents, Directors and Managers of Tax at a broad cross-section of U.S.-based and foreign-based multinational corporations. Some survey highlights include:
- U.S. businesses are uneasy about global competitiveness. Topping the list of tax concerns respondents would like addressed are the enactment of revenue offsets absent a competitive tax system or competitive tax rates (24 percent), the statutory tax rate (18 percent) and taxation of international operations (18 percent).
- Respondents say changing the worldwide tax system (32 percent) and reducing the statutory tax rate (35 percent) could be game changers in the global marketplace.
- Divisions in Congress coupled with the Administration’s weak support are preventing tax reform. Obama Administration priorities (40 percent) and the split in Congressional control (30 percent) were cited by respondents as the factors that will have the most negative impact on reform in 2014.
- Respondents believe House Committee on Ways and Means Chairman Dave Camp is the most influential tax policymaker, followed by President Barack Obama, Senate Majority Leader Harry Reid and new Senate Finance Committee Chairman Ron Wyden. Chairman Camp’s release of the Tax Reform Act of 2014 after the survey date only solidifies his role as the top tax policymaker.
- More than three quarters of respondents believe that split party control of the House and Senate will result in little or no tax legislation this year.
- Not even one respondent predicted tax reform will be enacted in 2014.
For a full copy of the survey results and analysis, please contact Laura Miller at (312) 252-4104 or lmiller@greentarget.com or visit www.millerchevalier.com or www.nftc.org.
About Miller & Chevalier
Founded in 1920, Miller & Chevalier is a Washington, DC law firm with a global perspective and leading practices in Tax, Employee Benefits (including ERISA), International Law and Business, White Collar and Internal Investigations, Complex Litigation and Government Affairs. In an era of big law, Miller & Chevalier is a top-ranked firm sharply focused on targeted areas that interact with the federal government. Over the past three years, the firm’s lawyers have represented nearly 40 percent of the Fortune 100, nearly a quarter of the Fortune 500 and nearly one-third of the Global 50. Based in Washington, DC, a significant number of firm lawyers have held senior positions in the U.S. government and have written many of the regulations they currently help clients navigate. For more information on the firm, visit www.millerchevalier.com.
About the National Foreign Trade Council
The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
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CONTACTS:
Marc Gerson, Member, Tax Department, Miller & Chevalier, 202-626-1475
Catherine Schultz, Vice President, Tax Policy, National Foreign Trade Council, 202-887-0278, ext. 2023
Laura Miller, Media Relations, Greentarget, 312-252-4104
NFTC Welcomes Administration’s 2014 Trade Agenda
Washington DC – The National Foreign Trade Council (NFTC) today welcomed the release of the Administration’s 2014 Trade Agenda. NFTC President Bill Reinsch released the following statement.
“The Administration’s 2014 Trade Agenda outlines many issues of importance to the NFTC and our members. Much progress has been made in Trans-Pacific Partnership (TPP) negotiations, and the Transatlantic Trade and Investment Partnership (TTIP) talks are well underway. Once completed, these two historic agreements will significantly expand U.S. market access, increase exports and create American jobs, and we are encouraged to see that concluding these high-standard agreements is a main focus for the Administration and its trade negotiators.
“However, in order to ensure that these agreements and future agreements benefit the U.S. economy, businesses and workers, we need Congress to pass Trade Promotion Authority (TPA) legislation. We are pleased to see that passage of TPA is a top priority for the Administration, and we urge Congress to act as soon as possible this year.
“We also welcome the Administration’s commitment to build off the recent momentum in Bali and continue to actively pursue and be a key player in negotiating multilateral agreements through the WTO.
“Additionally, the trade agenda also highlights the Administration’s commitment to work with Congress to renew Trade Adjustment Assistance legislation, an action the NFTC fully supports, as it will enhance U.S. competitiveness to promote growth and prosperity for American businesses and workers.”
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About the NFTC
NFTC is Celebrating our New Century in 2014! Details at www.nftc.org – The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York. Follow us on:
